Новости

A Guide through IFRS 2013 (“Green Book”) is now available

The IFRS Foundation has announced that “A Guide through IFRS 2013” is now available. This volume (nicknamed the “Green Book”) includes the full text of the Standards and Interpretations and accompanying documents (such as the Basis for Conclusions) issued by the IASB as of 1 July 2013 with extensive cross-references and other annotations. This edition does not contain documents that are being replaced or superseded but remain applicable if a reporting entity chooses not to adopt the newer versions early.

Real-time reporting would give companies “halo effect”, ACCA study shows

Investors believe that a move towards “real-time” reporting would enhance investor returns and improve the level of confidence in corporate reporting, a report by ACCA (the Association of Chartered Certified Accountants) reveals.

30% at max

The Central Bank and the Ministry of Finance yesterday agreed upon the exact value by which rates on consumer loans may differ from the market average. The maximum acceptable deviation is 30%.

Russia’s Federation Council approved a new tax formula for the oil and gas industry

The Federation Council of Russia today approved amendments to the Tax Code which specify calculation of the Mineral Extraction Tax (MET) for gas and oid and the order for gradual lowering of export duties.

SEC changes IFRS XBRL rules for foreign private issuers

The Securities and Exchange Commission said Tuesday that foreign private issuers who prepare their financial statements in accordance with International Financial Reporting Standards do not have to submit interactive data files until the SEC decides on a suitable XBRL taxonomy.

Little GAAP could drive accounting simplification

A push from privately-held companies for simpler accounting standards could jump-start a plan by U.S. accounting rulemakers to remove some complexity from Generally Accepted Accounting Principles.

Minfin teaching companies nuances of internal control

The Ministry of Finance has published a draft set of its recommendations on how to organize systems of internal control, including internal control over financial accounting. The document is not mandatory to follow, although it is strongly advised.

Non-government pension funds will have to prepare IFRS accountancy only in 2015

The government of Russia is introducing a bill to the State Duma which will spread mandatory application of IFRS standards onto new types of entities, including non-government pension funds (NPFs). The corresponding decision was recently made by the Cabinet of Ministers.

Ernst & Young to hire 3.7 thousand new employees in Great Britain

British office of the international auditing network Ernst & Young announced its plans to largely increase its staff by 30% in relation to increased demand for auditing and consulting services on the local market.

PCAOB looking to cozy up to audit committees

Audit regulators are looking to form closer ties with audit committees to get more insight into how they can work together to oversee auditors.