A new federal accounting standard №27/2021 on document management will be introduced

The Ministry of Finance has published the draft of the federal accounting standard № 27/2021, «Documents and document flow in accounting».

The federal accounting standard consists of five sections:

  • general provisions;
  • requirements for accounting documents;
  • signing and correcting accounting documents;
  • storage of accounting documents;
  • document flow in accounting.

Accounting documents are primary accounting documents and accounting registers.

Document flow in accounting is understood as accounting documents' movement from the moment of their compilation to the execution.

Accounting documents must be kept in the form they were compiled. The transfer of accounting documents made on paper to electronic format for storage is not allowed.

The new standard will be applied from 2022.