Новости

Foreign investors will be further allowed to Russian strategic mineral deposits

The government of Russia has prepared amendments to the law on mineral reserves which, if approved, will provide access to “strategic” mineral deposits of federal significance to foreign investors. Access will be granted through companies where they (foreigners) control up to 25% of equity. 

IFRS “legally flawed”, say readers

The assessment made by QC George Bompas that IFRS has substantial legal flaws is valid, according to Accountancy Age readers.

SIFMA challenges regulatory role of stock exchanges

A leading financial industry trade association is urging the Securities and Exchange Commission to reconsider the designation of for-profit stock exchanges as self-regulatory organizations (SROs).

EFRAG's Draft Comment Letter on the IASB’s revised Exposure Draft Insurance Contracts - ED/2013/07

EFRAG issued its Draft Comment Letter on the IASB’s revised Exposure Draft Insurance Contracts (ED/2013/07). Comments on the letter are invited by 18 October 2013.

Monopolies will disclose everything to everyone

No later than in September any citizen of Russia will get full access to information on investment programs of natural monopolies and, consequently, the way tariffs are set there. A new special system of control is being developed with which consumers will be able to study and initialize reviews of investment expenses of “Russian Railroads”, “Garprom” and other state corporations.

Minfin of Russia won’t allow tax holidays for individual entrepreneurs just like that

Head of the financial ministry Anton Siluanov immediately blocked further processing of the law as he fears that businessmen will start re-registering their older business and the budget will have tens of billions roubles unpaid as taxes.

Auditors for government entities in Russia will be chosen more effectively

Currently in Russia there is a contracts-based system for government purchases in place which regulates all stages of the process, from planning to evaluation of their effectiveness. Audit services for federal and municipal organizations are also processed that way. However, with the federal law which regulates it (№94) it is not possible to take into account qualification of auditors and quality of services they provide.

HSBC closing more than 40 diplomatic missions

Probably the largest bank in Great Britain, HSBC, informed on closing London accounts of more than 40 diplomatic missions, embassies and consulates as part of its new risk-management program. The bank gave 60 days to find a new bank to service them.

ICAI launches accountancy museum

The Institute of Chartered Accountancy in India (ICAI) Indore branch launched the first ever accountancy museum of Indore on Saturday. The museum includes all the archival data on charted accountancy from across the country.

Rules focus on sustainability issues required in 10-K

Health care companies have some new standards to consider on how to report on material sustainability issues, and companies in the financial sector are the next on the list who will soon see new standards specific to their operations.