Новости

New law on bringing criminal actions for tax crimes approved in the first reading

The controversial draft law which will permit law enforcement authorities in Russia to bring criminal actions for tax crimes on their own was recently approved in the first reading. We remind that the idea was actively opposed by Russian business (and even the prime-minister Medvedev), although Putin clearly expressed his point of view on that.

New amnesty in Russia won’t affect economic crimes

New massive amnesty is being prepared in Russia, dedicated to the constitution’s 20th anniversary. This will not affect the ones currently in prison through economic crimes they committed (or are said to have committed).

PCAOB will present new auditing standards on quality and estimates in 2014

More rules for American auditors should be expected from regulators in 2014. Those will regulate the way auditors check accounting estimates of fair value and systems of internal control in companies they audit.

FASB doesn’t want to complicate life of investors and financial statement preparers

It follows from yesterday’s announcement of Russell Golden - chairman of the Financial Accounting Standards Board - that the FASB is today working on an internal policy project to make sure that all new and amended accounting standards do not complicate financial information for investors.

Hans Hoogervorst thinks 2013 was “very productive for the IASB”

In his speech at the AICPA conference on SEC and PCAOB current developments head of the International Accounting Standard Board (IASB) Han Hoogervorst made a comparative judgment of IASB’s accomplishments as compared to July 2012. As a starting point he used the famous SEC report which was issued in July and immediately caused much discontent among accountants as it held not a slightest clue on the SEC’s plans for IFRS in the USA despite what was expected to get in that report before its publication.

Once again the CB chairperson denies existence of any “black lists”

In her interview to the 1 Channel of Russia’s TV head of the Central Bank Elvira Nabiullina once again denied existence of any “black lists” of banks – most likely candidates for a license revocation. “Once again” – because she already did during her meeting with representatives of banks soon after the recent scandal with Master-Bank.

Amendments to antimonopoly regulation delayed until spring

The controversial “forth antimonopoly set” of amendments was recently postponed until spring 2014. On that decision informed Russia’s vice-prime minister Igor Shuvalov after the meeting with entrepreneurs on 6 December. Thus, Russian entrepreneurs actually won a long stand-off with antimonopoly regulators.

Audit regulation improved in Russia

According to the announcement by the Minfin’s chairman Anton Siluanov, the independent research which was performed in September-October upon the ministry’s request - and by methodology of the United Nations Conference on Trade and Development (UNCTAD) – demonstrated high correspondence of Russia’s corporate accountancy to international standards. At the same time, there is still much to do.

David Tweedie appointed to the PCAOB’s Standing Advisory Group

Former head of the IASB and current chairman of the International Valuation Standards Committee (IVSC) sir David Tweedie was recently appointed to the Standing Advisory Group of the Public Company Accounting Oversight Board.

IFRS Foundation completes the third state of its study

The IFRS Foundation concluded that IFRSs had already become a global accounting language. Today international developers published results of the third stage of their study, updating profiles of counties on IFRSs.