OREANDA-NEWS. November 16, 2009. Along with preparing financial reports required by Federal Law № 139, On the Russian Corporation of Nanotechnologies, and Federal Law № 129, On Accounting—will begin issuing consolidated financial reports in accordance with international financial standards in 2009 for the RUSNANO Group and the Russian Corporation of Nanotechnologies.

This decision is another step in the corporation’s strategy to increase transparency in its interaction with Russian and foreign financial institutions. RUSNANO had taken other steps earlier, including the introduction of open procedures for selection of banks to manage and control temporarily uncommitted investment resources and creating a system for budget administration in project companies. These efforts will make the corporation more attractive to investors, including finance and credit organizations, to the investment projects in the field of nanotechnology.

The Supervisory Council of RUSNANO approved selection of PricewaterhouseCoopers as the auditing firm for the approval of corporate financial reports. The international accounting firm will audit reports prepared in accordance with Russian and international financial accounting standards. PricewaterhouseCoopers was chosen in an open tender with three other undisclosed participants.