Новости

End of convergence brings challenges and opportunities

The program of converging accounting standards between the Financial Accounting Standards Board and the International Accounting Standards Board is nearing an end after more than a decade.

Russian economists predict prolonged stagnation

Russian experts from the National Research University Higher School of Economics predict miserable existence for the country’s economy during the next few years. After all, no structural reforms have been completed. Until 2019 the GDP growth rate won’t get higher than 3.3%. During the next 6 years rouble will devaluate by 7% and inflation will decrease by 1%.

Competition watchdog urged to water down audit tendering rules

Forcing companies to put their audit work out for tender every five years should be scrapped in favor of a less draconian approach adopted by the FRC, the Competition Commission has been told.

Entrepreneurs urge G20 to take steps and ensure creation of job places and economic growth

Access to funding on different stages of business development is still a problem for 70% of companies.

Japanese proposals to permit wider voluntary IFRS adoption

The Financial Services Agency of Japan (FSA) has released proposals to amend applicable ordinances to allow the wider voluntary application of International Financial Reporting Standards (IFRS) in consolidated financial statements by Japanese companies. The proposals would implement earlier policy recommendations from Japan's Business Accounting Council (BAC) to ease the eligibility criteria for voluntary IFRS adoption in Japan.

ACCA partners PwC on IFRS

The Global Chief Executive of the Association of Chartered Certified Accountants (ACCA), Helen Brand, has revealed that her organization will collaborate with the PricewaterhouseCoopers (PwC) Nigeria on key initiatives such as capacity building on the International Financial Reporting Standards (IFRS).

MASB issues near to final proposals for private entities

The Malaysian Accounting Standards Board (the Board) has today issued Exposure Draft 77 Malaysian Private Entities Financial Reporting Standard (MPERS) for comment. The Board is proposing that all private entities would be required to apply a single financial reporting framework, the MPERS (or such name as the Board may decide), on 1 January 2016. Private entities are those non-public interest entities such as non-listed companies

The Audit Chamber of Russia has ideas on how to fight with price dumping in audit services

The IFAC’s member Audit Chamber of Russia has published a letter of appeal of its Far Eastern branch, reminding of the current crisis in the audit profession in Russia and proposing methods to fight with dumping on the audit market.

“Golden parachutes” won’t fly too high

The Ministry of Labor and Social Protection of Russia plans to introduce a new draft law to the government to restrict “golden parachutes” for top-managers. A “golden parachute” is an agreement by which a manager is entitled to a certain reward upon termination of his/her employment. Certain experts, however, think that it is also necessary to decrease bonuses as well (according to the CEO magazine’s research, a member of the board in a large state corporation of Russia may earn up to 140 million roubles in a year).

Prudential supervision: a farewell gift from Dmitry Pankin

For only several days left before his resignation head of the Federal Financial Markets Service (FFMS) Dmitry Pankin presented a “farewell gift” – the long-awaited project on prudential supervision over financial market participants. If the law is approved, all brokers, dealers and management companies will have to calculate capital adequacy indicators and to check whether they meet the requirements.