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Russian Microfinance
Center website
www.rmcenter.ru
Conference organizers:
Association of Russian Banks
National union
of organizations of
financial mutual support
League of Credit Unions
Russian Agency
for SME Support
OPORA RUSSIA
Soyuz Mutual Insurance Society
Small and medium enterprises support foundations association “RusFund”
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Dear friends!
We are glad to offer you some Pre-Conference Events during the Conference.
Government Regulation and Self-regulation of Credit Cooperatives: How to Form Sustainable SROs
The new Federal Law on Credit Cooperatives aims to establish a system of self-regulation for the Russian credit cooperatives The Law provides for a possibility to create more than one self-regulating organizations of credit cooperatives in Russia. At the same time, the Law sets strict requirements for SRO management systems, minimum assets, types and methods of operation. It appears, therefore, that only a few such organizations will be eventually set up. In this connection, transformation of existing associations (networks) into SROs is particularly relevant, alongside questions about the future of regional unions of credit cooperatives, how the registry of credit cooperatives and their associations will be maintained, etc. These and other questions will be discussed at this seminar.
Accounting and Auditing for MFIs
Bartolome Salvador de Solorzano, a famous Spanish scientist and the author of the first Spanish treatise on double-entry bookkeeping (1590), said, "Accounting is the lady of all other arts and sciences, because all of them need it, and it needs no one; without it the world could be governed only with great difficulty." Life always presents new and increasingly tough challenges for accountants to deal with. This seminar will provide an opportunity to share available expertise and experience both for those who are starting their accounting career with microfinance institutions and for those who have gained some experience and wish to prepare for new accounting challenges as their institutions grow.
Given the current changes in the legislation on microfinance institutions, new opportunities for attracting foreign capital, as well as expectations of increased government support for the microfinance sector, we propose to address various specifics of accounting practices relevant to MFIs with or without members. In addition, the seminar will cover accounting and auditing of grant (targeted) funds, and discuss the requirements which accounting software should meet in order to help MFIs attract investors.
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