Новости

Canada’s investment funds will switch to IFRS on 1 January 2014

The Canadian Securities Administrators (CSA) informed that they had approved a final schedule for investment funds’ transition to international financial reporting standards.

EU is ready to adopt mandatory auditor rotation

During parliamentary discussions last week representatives of the member states found a consensus, approving certain measures to restrict non-audit fees of auditors and obliging companies to choose their auditors every 20 years.

The next FASB roundtable on insurance contracts scheduled for December

The US Financial Accounting Standards Board informed that the next roundtable on its Exposure Draft proposals concerning insurance contracts (which was issued in June) would be held in December.

International accounting standards developers increase their support to accounting education

The IFRS Foundation Education Initiative informed on publication of its teaching materials in free access, available in all main UN languages: English, French, Russian, etc. Those materials are Framework-based and are aimed to help educators to teach future accounting professionals how to prepare financial accountancy in accordance with accounting standards.

Russia’s government approves criminal liability for manipulations with financial accountancy

The Cabinet of Ministers okayed adoption of amendments to the Criminal Code to provide criminal liability for manipulations with financial accountancy of banks, also management companies, insurance and investments companies, non-government pension funds.

PCAOB to discuss two new standards for auditors of brokers and dealers

The US Public Company Accounting Oversight Board scheduled its next meeting for this Thursday where it will discuss the possibility to adopt two new attestation standards for auditors of brokers and dealers.

IFAC presents global report on accounting profession’s development

In 2011 thirteen IFAC members signed a “Memorandum of Understanding to Strengthen Accountancy and Improve Collaboration”, or simply “MOSAIC”. Last week a global report was published as part of “MOSAIC” initiative, summarizing results of the accounting profession’s development.

Europe may start to review the IASB funding strategy each year

Quite possibly the IFRS Foundation / IASB will risk losing the European source of their funding each year with each annual review of the EU’s corresponding strategy. At the moment is it far from being certain, although it is a possibility.

Solvency II delayed until 1 January 2016

The European Commission made a decision to postpone the Solvency II accounting rules for European insurers until 2016. The announcement came from the internal market commissioner Michel Barnier.

CFA Institute informs on investors’ choice of credit loss model

The world’s largest professional association of investors from more than 100 countries – the CFA Institute with HQ based in the USA - published results of internal survey among its members concerning drafts models of IASB and FASB on recognition of credit losses.