Новости

British FRC raises the bar for risk management standards

This week the British Financial Reporting Standard (FRC) published its draft amendments to the Corporate Governance Code and guidance for companies’ directors and their auditors which cover issues of risk management and corresponding accountancy. Another separate guidance specifically for bank directors was also included.

FASB simplifies life for development stage companies

In full accordance with its previous plans the US Financial Accounting Standards Board today issued a set of amendments aimed to simplify and improve accounting for private and public companies at the development stage. All stakeholders are invited to participate until 23 December.

Revenue recognition standard scheduled for Q1 2014

The Financial Accounting Standards Board (FASB) voted this week for final version of the revenue recognition standard. Its publication is thus scheduled for the first quarter of 2014.

Russian business worried by the idea to be put under direct control of the Investigative Committee

This week the Investigative Committee of Russia proposed an idea to take direct participation in fight with tax evasion. It was informed on a new draft law which is aimed against tax minimization by companies with use of law-tax jurisdictions.

“Golden parachutes” being restricted in Russia

A draft law on restriction of “golden parachutes” to top-managers of state-owned companies and corporations has been introduced to the State Duma for consideration.

Putin keeps flat scale for the personal income tax

Vladimir Putin wants to keep flat scale for calculation of the personal income tax. In theory, it is possible to adopt progressive scale in time, although this should be done carefully.

Russian bankers will learn how to fight with money laundering

At the yesterday’s meeting with representatives of the banking sector of Russia deputy chairman of the Central Bank Dmitry Skobelkin informed on successful approval of new anti-money laundering rules by the Department of Justice.

Switzerland adopting unprecedented rules for its banks

Share of the banking sector in Switzerland’s economy is higher than in other European counties, which probably explains why it is taking harsh measures against potential bankruptcy of its banks.

Six large banks will pay for EURIBOR manipulations, but not Barclays

European regulators are about to fine six large international banks for their manipulations with the EURIBOR rate. Among the ones in the list are HSBC, JPMorgan Chase, Deutsche Bank, Royal Bank of Scotland, Societe Generale, and Credit Agricole.

Russia’s president signed a law, adopting simplification of accountancy for small entities

The president of Russia Vladimir Putin signed the Federal law N 292-ФЗ on amendments to financial accounting regimes for small entities. We remind that it was approved in the third and last reading at the end of October.