Новости

Patents for highly qualified foreign experts cancelled in Russia

Foreign specialists with high professional qualification will now be able to live and work in Russia much easily because the country’s government recently cancelled the patent requirements.

Banks can’t charge fees higher than the payment

Fees charged by Russian banks are still one of the reasons for regulators’ displease. This time the Supreme Commercial Court has doubts in current practices: judges question the amount charged as fees in case of non-tax payments to the budget.

FRC statement following publication of the Parliamentary Commission on Banking Standards Final Report

The Commission’s report focusses on banks specifically; however the FRC’s remit is wider than this. If we conclude that the report raises governance issues relevant to all companies that are not adequately addressed by the existing Code and guidance, we will bring forward proposals to address them, but there must be good evidence for this.

Minfin adopting amended versions of three IFRSs for use in Russia

All amendments to those standards are related to investment entities.

Minfin named most common mistakes of auditors

The financial ministry’s audit department has published a report on quality control over audit organizations’ and individual auditors’ work where its authors informed on main mistakes made by auditors in their business practice.

Call for tender to take stock of the effects of using IFRSs in the EU

The European Commission has published a call for tender to take stock of and to assess the effects of using international financial reporting standards (IFRS) in the EU.

GAAP-IFRS.COM Digest: 17-21 June

Minfin of Russia wants to turn non-government pension funds into joint-stock companies

The Ministry of Finance of Russia has developed a new draft law which, if approved, will allow making joint-shock companies (JSCs) out of pension funds and acting as commercial entities orientated towards making profits, although with certain restrictions. On that informed deputy chairman of the finance ministry Alexei Moiseev at the International Economic Forum in St.-Petersburg.

BAC report recommends greater use of IFRS in Japan

Japan’s Business Accounting Council (BAC) met on 19 June 2013 to finalize its deliberations about the use of International Financial Reporting Standards (IFRSs) in Japan. Subsequent to the meeting, on 20 June, the BAC issued its final report, based on a series of BAC discussions. The report recommends a number of measures, and may result in four possible sets of accounting standards that could be used by Japanese public companies, including greater, but not mandatory, use of IFRSs or IFRS-based standards.

GASB issues proposals on concepts for measurements of assets and liabilities and on the measurement and application of fair value

The Governmental Accounting Standards Board (GASB) today issued for public comment a proposed Concepts Statement that would guide the GASB when establishing standards regarding the measurement of assets and liabilities for U.S. state and local governments. The GASB also issued its Preliminary Views regarding the measurement of fair value and the application of fair value, including note disclosures. Finally, the GASB issued a Plain-Language Supplement that addresses both proposals and is intended to solicit feedback on the proposals from non-accountant financial statement users.