This study examines and addresses the most important and critical problems associated with fraud risks and uncertainties in accounting (financial) and tax reporting. Attackers, committing deceptive and fraudulent actions, overestimate assets or write off stolen funds as expenses, as a result of which potential investors, suppliers, and customers may make incorrect financial decisions regarding the alleged counterparty. The author of the article analyzes the uncertainties existing in tax legal relations, and how they divert the resources of business entities (financial, human, technological) to resolve these problems through litigation. The purpose of the study is to analyze and assess both the risks of fraudulent misstatements with estimated liabilities and fair values in financial statements, as well as uncertainties affecting business activities and operations in the conditions of limited financial resources. The risks of fraud and uncertainty act as the key factors in predictive crimes and offences. The article presents the author’s interpretation of the concept of “uncertainty” as the inability of a management entity to make the right financial decisions due to ignorance of relevant regulatory legal documents on various issues of tax relations or incomplete information necessary for effective activity. The study used such general scientific methods as comparative and logical analyses, statistical analysis, and content analysis. The author of the study concluded that when identifying existing uncertainties in tax legal relations, when some of them are not legally regulated, the principle of presumption of innocence of an economic entity should be applied, which, under the conditions of sanctions restrictions, is the only correct decision that directly affects the financial well-being of the latter, and, consequently, the level of the country’s defense capability. The results of the study can be used in practice by employees of financial, accounting services, as well as the employees of regulatory and supervisory authorities in assessing tax risks.

The paper reveals four main stages of formation and development of the audit institute and shows the change of concepts: from confirmatory to system-oriented and from risk-based to crisis-oriented audit. The author analyzed their features and distinctive traits. The study’s aim is to form the latest concept of crisis-oriented audit applied in Russia and the world at the present stage. Also, the author has presented her model of this concept. Auditors in the scientific community widely employ metaphorical characteristics, including “watchdog” in confirmatory audit, “sniffer dog” in system-oriented audit, and “guide dog” in risk-based audit. Furthermore, auditors in a crisis-oriented audit introduce the concept of a “rescue dog” in the scientific community. The methodological basis of the research is the works of Russian and foreign authors. The paper systematized scientific approaches to the definition of “audit” first ever. The author examines the transformation of this definition depending on the development of the audit institution and the emergence of conceptually new audit paradigms. The study concludes that current definitions of “audit” and “digital audit” do not adequately address the challenges faced by the audit institution. The author proposes her own definition of these concepts in the crisis-oriented audit framework. The article also analyzes extra risks inherent in digital audit, both in relation to the auditor and in relation to the audited entity.

The paper focuses on introducing technological innovations in the Federal Treasury of the Russian Federation during the digitalization stage. It covers budget execution, contractual relations, and tax revenues at all levels of administration. The study reveals existing information systems (IS), their administration, their level of coverage, and influence in the development framework of the state. The list of systems under consideration includes the state integrated IS “Electronic Budget”; a single IS for procurement; IS of a single tax account; Subsystem of the information and analytical support of the Federal Treasury. The management process in digitalization conditions updates the digital format for the IS upgrade as forms of expression. An analysis of the transition to the digital format and introducing technical innovations of the IS of the Federal Treasury. The research systematized procedures for improving the working documentation, the roles of participants in the IS growth at different stages of development, implementation, and development. The work aims to study digital formats for optimizing procedures and administer IS in the treasury bodies of Russia. It also focuses on digitalization and progressing a digital economy. In the process of achieving the research goal, the authors utilized various methodological techniques. Methods of scientific knowledge include general-logic, theoretical and empirical methods. The study used system analysis to examine the IS of the Treasury of Russia. This approach revealed the interconnected elements and key parameters that influence its administration during digitalization. The authors concluded that “affirmation” has the goal of enhancing administering Russian treasury IS during their development, implementation, and modernization stages. Digitalization processes of the Federal Treasury allocated the major problems of IS development. 

The Ministry of Finance of the Russian Federation has approved a new Federal Accounting Standard (FSBU) 4/2023 “Accounting (Financial) Reporting”. The purpose of the article is to analyze the content of the standard from the standpoint of the theory and practice of forming accounting (financial) statements and to prepare conclusions and proposals based on the results of this work. The study used general scientific methods, such as analysis, comparison, generalization, and specification, and also compared Federal Accounting Standard 4/2023 with the current documents regulating accounting in the Russian Federation, international financial reporting standards, and previously prepared drafts of the federal standards. Based on Federal Accounting Standard 4/2023, the author’s conclusions are formulated both regarding the composition and content of the information disclosed in the forms of accounting (financial) statements, and the procedure for preparing the latter and the conditions for its reliability, not specified in the text of the standard and the information message of the Ministry of Finance of Russia. The article reflects the shortcomings of the new standard, including in terms of the objectives of accounting (financial) statements and the purpose of financial information. The ambiguities of Federal Accounting Standard 4/2023 were eliminated and recommendations for its application were proposed. The results of the study can be applied in the theory and practice of accounting and the formation of accounting (financial) statements. 

The paper is relevant because it addresses the absence of regulatory documents for determining work completion and accounting revenue recognition in non-construction industries. The study aimed to analyze the innovations of the draft FAS Revenue in accounting, specifically regarding revenue and income recognition. It also aimed to identify major discrepancies with the currently applicable IFRS 15 Revenue on Contracts with Buyers and RAS 2/2008 Accounting for Construction Contracts. Also, the work endeavours developing recommendations for refine the draft FAS Revenue on revenue recognition and determining the completion level of work when performing research and development (R&D) under long-term contracts. The author considers new concepts and definitions of the draft standard, considering their probable practical application in modern conditions. The author presents a rationale for the need for priority application of the expert method for assessing the level of completion of R & D under long-term contracts. Based on the principle of rationality and materiality, the author formulates the criteria for recognizing contracts as long-term. Also, the research gives some advice for improving theoretical and organizational-methodological points for accounting of revenue under long-term contracts, ensuring more complete and reliable presentation of accounting (financial) statements. This work’s results can help organizations enhance the quality and reliability of their accounting statements. More over, it can help reduce labor costs associated with preparing these statements using the revenue recognition method. The study used analysis methods, comparison, grouping, the method of analogies, the method of comparison and generalization of regulatory sources and scientific literature on the topic of the study.

This study is devoted to approaches to pricing problems during the implementation of nuclear power plant construction projects abroad from the perspective of the nuclear industry’s aspiration to take the place of a global leader. In the course of the work, the issues of client-centricity were considered, the pros and cons of various types of pricing of EPC contracts were analyzed — at fixed, approximate, and mixed prices; the appropriate and corresponding solutions were proposed. Theoretical research methods such as analogy, classification, generalization and comparative analysis, and empirical methods such as modeling and description are used.

The purpose of the study was to determine the main feature, the distinctive property of the application of a fixed price of the EPC contract for the construction of nuclear power plants outside the Russian Federation.

The result of the research was the proposal of two pricing options when working with local contractors, which will be of interest to qualified specialists in the field of pricing of the nuclear industry during the construction of nuclear power plants. 

Digital transformation has led to the emergence of technology-based financial services, known as FinTech, which are rapidly changing traditional banking by penetrating all areas of banking, creating many innovative applications including lending, payments, asset management, etc. The rapid growth of Fintech companies has the potential to become a serious threat to local banks.

The purpose of the study is to examine the impact of financial innovations on the activities of regional banks and to consider possible scenarios for the development of the latter in the context of FinTech expansion in the banking market.

In the course of the work by applying methods of expert assessments and generalization it was revealed that financial innovations play a decisive role in the development of banking services and improving the quality of customer service. The relevance of the study is due to the need to find possible ways to integrate financial technologies into the activities of local banks —  in the new realities, they should deepen partnerships with FinTech and systematically adjust their strategies, as the digital transformation of business is inevitable.

The results obtained —  scenarios substantiating the potential impact of digitalization of FinTech services on banks — can be used to develop development strategies for local banks. 

The article discusses the methodology for using a constant coefficient when combining forecasts. Today, there are many options for constructing weighting coefficients, and some of them include a constant coefficient in the combination due to the assumption that it improves forecasting accuracy. Unfortunately, there is no clear and unambiguous answer to the question of how true this hypothesis is — it has both positive and negative sides. The purpose of the study is to determine the advantages and disadvantages of using a constant coefficient when combining forecasts based on available practical and theoretical data, as well as to form a unified approach to this issue. In the course of the work, scientific methods for combining forecasts were applied (proposed by K. Granger and R. Ramanathan), one of which involves the presence and calculation of the constant coefficient. The practical results obtained by the author of the article have generally confirmed the value of including a constant coefficient in the combined forecast, on the basis of which it was concluded that the use of the latter is possible if there is confidence that it can improve the accuracy of forecasting. The study also identified the need to find such an approach to constructing weighting coefficients that would take into account the possibility of changing the constant coefficient for combining forecasts, thereby expanding the possibilities of its application. 

The paper studies the life and work of the founder of the tax accounting history, Konstantin I. Rovinskiy.

The relevance of this publication is determined by the insufficient study of the history of tax accounting in Russia.

It uses the prosopographical method and the method of archival research.

The author’s goal is to emphasize Rovinskiy’s contribution to financial science. This involves justifying indirect taxation compared to direct taxation, determining the most effective tax administration structure, establishing procedures for collecting excise tax on alcohol, auditing financial activities, and encouraging adherence to ethical standards among financial workers. His major work, “Tax Inspectorate in Russia”, is one of the most cited publications on the history of taxation. 

Rovinskiy’s contribution to the social movement is important. He shared the political ideas of the zemtsovs, and wrote his articles in newspapers under the pseudonym Zemets. Despite his liberal views, participation in a club of political figures, in a conference on introducing a self-state in Russia. Rovinskiy lectured on religious issues, in which he had substantiated the need for separation of church and state. Throughout his career in the civil service, Rovinskiy held various positions, including the head of the department of tax collection of the Ministry of Finance, as well as management roles in the Courland treasury chamber in Mitava and Orel. He eventually rose to the rank of actual state councilor. The revolution changed his fate and interrupted his civil service, but opened up spiritual service for him. His high spiritual qualities helped him survive many arrests and exile. The manuscript department of the Russian State Library currently holds Rovinskiy’s works, but regrettably, they have yet to publish them. They are valuable not only as a historical document but also as a wonderful literary composition.