Новости

IAASB Proposes Standards to Fundamentally Transform the Auditor's Report; Focuses on Communicative Value to Users

The International Auditing and Assurance Standards Board (IAASB) today released proposals to enhance the future auditor’s report. The IAASB’s Exposure Draft, Reporting on Audited Financial Statements: Proposed New and Revised International Standards on Auditing (ISAs), responds to calls from investors, analysts, and other users of audited financial statements in the wake of the global financial crisis for the auditor to provide more relevant information in the auditor’s report based on the audit that was performed.

IPSASB Publishes First Recommended Practice Guideline on the Long-Term Sustainability of Public Finances

The International Public Sector Accounting Standards Board (IPSASB) has issued Recommended Practice Guideline 1 (RPG 1), Reporting on the Long-Term Sustainability of an Entity’s Finances. RPG 1 provide guidance on reporting on the long-term sustainability of a public sector entity’s finances over a specified time horizon in accordance with stated assumptions on policy and demographic and economic variables. RPGs are a new type of publication that provides guidance on the broader aspects of financial reporting that are outside the financial statements.

IASB begins the Post-implementation Review of Business Combinations Standard

The International Accounting Standards Board (IASB) has begun its Post-implementation Review of IFRS 3 Business Combinations. The Business Combinations Standard sets out how an entity should account for the acquisition of another entity. It was developed in two stages: the first in 2004 and the second in 2008. The IASB has confirmed that this Post-implementation Review will look at the changes introduced in both stages, including changes to the presentation of consolidated financial statements that were made at the same time.

Small business in Russia will have to pay smaller insurance payments

Vladimir Putin has signed a law to decrease obligatory insurance payments for individual entrepreneurs. The document is aimed to settle the situation after insurance payments were increased sharply. This led to indignation among private businessmen of Russia and, eventually, to weaker business activity.

“Rosfinnadzor” published a report on audit companies’ inspections for the first half of 2013

The Federal Service of Financial and Budgetary Oversight (aka “Rosfinnadzor”) has published a report on its website with results of audit companies’ inspections as of 15 July 2013. The repost comprises results of inspections which were finished before 1 July.

FASB Issues Proposed Accounting Standards Update - Measuring the Financial Liabilities of a Consolidated Collateralized Financing Entity

Upon initial consolidation, many reporting entities elect the fair value option to account for the financial assets and financial liabilities of the consolidated collateralized financing entities. The Task Force received input indicating that diversity in practice has developed in the accounting for the difference upon initial consolidation between the fair value of assets and the fair value of the liabilities of a collateralized financing entity. The objective of this proposed Update is to resolve that diversity in practice.

FASB Issues Proposed Accounting Standards Update - Service Concession Arrangements

The objective of this proposed Update is to specify that an operating entity should not account for a service concession arrangement within the scope of this proposed Update as a lease in accordance with Topic 840, Leases. Service concession arrangements are becoming more prevalent in the United States as public-sector entities seek alternative ways to provide public services on a more efficient and cost-effective basis.

Investors leaving BRIC and returning to the USA

This year investors’ preferences have changed significantly: large American banks are gaining in value while mining companies in developing economies are becoming cheaper.

Competition questions over mandatory audit tendering

Forcing auditors to bid for the work of Britain's largest businesses every five years may not result in a more competitive market, according to members of the profession.

IAASB reports on findings from post-implementation review of the clarified ISAs

The International Auditing and Assurance Standards Board (IAASB) today released its Post-Implementation Review - a Report that highlights the results of the IAASB’s efforts to learn whether the clarified International Standards on Auditing (ISAs) are being consistently understood and implemented in a way that achieves the IAASB’s goals in clarifying and revising them.