Новости

Tougher market abuse rules for EU

The European parliament has voted in favour of new rules imposing tougher sanctions for manipulating financial markets, insider dealing or abuse of inside information, which will cover a wider range of trading venues and financial instruments than current regulations and provide for substantial fines for misconduct.

Non-government pension funds with have to turn into joint-stock companies in five years

In Russia, non-government pension funds will be forced to transform into joint-stock companies (JSCs), and they will be given 5 years to do that.

European Commission declares an end to recession in Europe

Probably a bit too optimistic announcement was made yesterday by the European Commission’s chairman Jose Manuel Barroso. According to him, for Europe recovery is already “within sight”. It has come to replace the longest recession in history which was a consequence to the debt and banking crisis.

ASAF meeting agenda released

The International Accounting Standards Board (IASB) has released the tentative agenda for the meeting of the Accounting Standards Advisory Forum (ASAF), which is to be held at the IASB's offices in London on 25-26 September 2013.

FASB seeks to simplify reporting for development-stage entities

FASB voted Wednesday to propose changes designed to improve the relevance and reduce the complexity of development-stage entity financial reporting.

Anti-money laundering legislation in Russia creates new problems for banks

Not only anti-money laundering laws bring largest number of various sanctions to banks, but they are also an abundant source of their variety. Very soon banks expect another wave of fines for non-following one of the Central Bank’s new regulations. The Bank of Russia thinks that credit organizations apply only a “pro-forma” approach to writing their own internal anti-laundering rules while banks accuse the regulator in excess formalism.

Adoption of new IFRS-based revenue recognition rules is supported by only 38% of entrepreneurs

Prolonged discussions of new rules for revenue accounting and recognition under IFRS does little to gain entrepreneurs’ support. In fact, as it follows from the recent GT’s International Business Report, as of today only 38% of businesses see future changes as necessary and reasoned. Most of the respondents predicted higher costs of preparation of accountancy, and among other things – because of expected accounting complications.

IFRS standards available as web app

The IFRS Foundation has launched a new web app for accessing IFRS content and related information from tablet computers and other mobile devices.

Prof. Arnold Schilder reappointed to chair the International Auditing and Assurance Standards Board from 2015 to 2017

Prof. Arnold Schilder has been reappointed as chairman of the International Auditing and Assurance Standards Board (IAASB) for the period 2015–2017.

EFRAG's final comment letter on the IASB's ED/2013/5 Regulatory Deferral Accounts

The ED proposes to allow those entities that currently recognize regulatory deferral account balances in accordance with their previous GAAP and meet certain scope criterion, to continue to do so after adopting IFRSs.