Новости

“Golden parachutes” will have their limits

This week the Ministry of Labor and Social Protection of Russia introduced a draft law to the government to restrict bonuses of top-managers in state companies and corporations in care of a discharge.

The Accounts Chamber will be further chaired by Tatyana Golikova

A representative of the Accounts Chamber of the Russian Federation (which exists to control effectiveness of government spending) Sergei Shakhrai informed that the current board would work until 1 October. A serious reshuffle awaits the organization: instead of Sergei Stepashin it will be chaired by Tatyana Golikova, currently the presidential Aide.

Moscow Stock Exchange switching to T+2

Starting from next Monday the Moscow Stock Exchange will further work in the new regime “T+2” which means cancellation of the 100% securitization requirement for all transaction.

EFRAG has issued a feedback statement on the EFRAG Round table on long term investing activities business models

On 8 July EFRAG organized a round table with companies involved in long-term investing activities and users of financial statements of the companies involved in those activities to get input from and exchange views on the financial reporting aspects of long-term investing business models and financial reporting issues raised in the EC Green Paper on long-term financing.

AICPA releases decision guide for FRF for SMEs

The American Institute of CPAs has released guidelines to help privately held businesses determine which accounting framework, including the Financial Reporting Framework for Small- and Medium-Sized Entities, best meets their financial reporting needs.

KPMG, PwC 2012 inspection reports list more failures

Two more Big 4 firms took new criticism from the Public Company Accounting Oversight Board after the board published 2012 inspection reports for KPMG and PwC.

First-ever sentence announced in Russia in relation to price manipulation

It is the first time when in Russia somebody faces a real sentence over share price manipulation on financial markets

Companies registered in offshore jurisdictions will have to tell their clients about that

The State Duma of Russia has acquired a new draft law to oblige companies – residents of offshore jurisdictions – to disclose that information to their customers.

Cryptocurrencies under real control

During the meeting between the Bitcoin Foundation and representatives of several American financial institutions it was announced that virtual currencies will have to follow the same disclosure requirements as all other currencies in the world.

PwC finds client demand for integrated reporting

PricewaterhouseCoopers is seeing more companies expressing an interest in looking beyond their basic financial results so they can develop new frameworks to provide a more informative view of their business.