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According to the Russian Federal Law On Accounting No 129-FZ assets inventory is mandatory for all organizations located in the territory of the Russian Federation at least once per year prior to preparing annual reports to assure authenticity of accounted data. Still stock taking can be conducted more frequently, for example, during reorganization of an enterprise, change of owner, lease of assets, when shortage is identified or when owners wish to find out the factual availability and condition of fixed assets, construction in progress and stock.

In Russia, traditionally organizations are making up an inventory with own resources. However, lately there has been a trend detected both in industrial sector and retail to outsource this activity to specialized organizations. As seen from practice, involving an independent party for stock taking is more effective. Often a number of organizational and record-keeping issues crop while they have not been identified by internal auditors.

Vladimir Kalachev, Stock-Taking Project Manager at SGS Vostok Limited: ‘We see our main task while making up inventory in eliminating asymmetry between paper data and actual activity of our customers through providing them with objective and authentic information complemented with specific recommendations over how to improve accounting, record-keeping, warehousing. The fact that SGS has an extensive network of offices and qualified inspectors all over Russia allows us to implement large-scale inventory projects covering also hardly accessible regions with due quality in short period of time’.

For further information, please contact:

Vladimir Kalachev
Stock-Taking Project Manager, SGS Vostok Limited (SGS Group)
t: +7 495 775 44 55
Website: www.ru.sgs.com

ABOUT SGS

SGS is the world’s leading inspection, verification, testing and certification company. SGS is recognised as the global benchmark for quality and integrity. With more than 67,000 employees, SGS operates a network of over 1,250 offices and laboratories around the world.