Finance and Banking
Baker Tilly team has been an auditor of a strategically important entity in the Republic of Tajikistan for 3 years. Baker Tilly in Tajikistan helped to issue audited financial statements for further consolidation of the parent company in the Russian Federation.
Baker Tilly in Tajikistan in a consortium with Baker Tilly Klitou (Romania) and Baker Tilly in Kyrgyzstan has been auditor of World Bank-funded projects for 5 years. Baker Tilly team issued reports in accordance with the International Public Sector Accounting Standards in Russian and English for number of projects implemented by WB in Tajikistan.
Baker Tilly in Tajikistan in a consortium with Baker Tilly in Kyrgyzstan signed a three-year contract to audit projects financed by the Asian Development Bank in the Republic of Tajikistan. Baker Tilly team issued project reports in accordance with the International Public Sector Accounting Standards in Russian and English.
As part of the major changes in accounting, classification and presentation of financial instruments, the International Accounting Standards Board (IASB) introduced a new standard, IFRS 9 “Financial Instruments”, which became mandatory for all entities from January 1, 2018. Baker Tilly team of experts from Baker Tilly offices in Russia, Kazakhstan and Kyrgyzstan successfully implemented this standard in several large banks in the Kyrgyz Republic and the Republic of Tajikistan.
Baker Tilly was an auditor for 5 years of a financial organization in the Kyrgyz Republic, which had a subsidiary financial organization in the Republic of Tajikistan. Baker Tilly team from Kyrgyzstan and the United States of America assisted in the issuance of audited consolidated financial statements of the parent company in the Kyrgyz Republic in compliance with International Financial Reporting Standards and Generally Accepted Accounting Standards (US GAAP) in Russian and English in two currencies - Kyrgyz Soms and US Dollars. These consolidated financial statements were prepared in US dollars in compliance with the US GAAP and were used for consolidation by the ultimate controlling party located in the USA.
Baker Tilly team has been assisting several municipal companies in the cities of Bishkek, Osh, Talas, Naryn, Kara-Balta, Tokmok and Cholpon-Ata in research and evaluation of current operations and improvement of the companies’ management as part of the Corporate Development Program since 2011. In cooperation with internationally recognised and specialized companies from France, Finland and the Czech Republic, we implemented transformation of accounting to international financial reporting standards and the best practices in municipal companies of the Kyrgyz Republic to update the outdated infrastructure and improve corporate culture development.