Новости

IASB issues proposals on rate regulation

The International Accounting Standards Board (IASB) today published for public comment the Exposure Draft Regulatory Deferral Accounts as part of its reactivated Rate-regulated Activities research projec

EU committee advises law on audit firm rotation

The European Parliament's Committee on Legal Affairs has voted to recommend the Parliament adopt a law to require audit firms to check a company's books for no more than 14 years, with a possible extension to 25 years if certain safeguards are present. The proposal softens the original recommendation from EU Commissioner Michel Barnier, who wanted firms to remain on a given audit no more than six years.

Oil prices go down - JP Morgan Chase recommends cutting investments in Russian shares

JP Morgan Chase recommends decreasing investments in Russian shares because of oil getting cheaper and low dividends of Gasprom. Experts who were surveyed by RBC-Daily don’t see anything unnatural here because foreign investors started to demonstrate negative attitude already at the end of 2012.

Fighting the recession may destroy Russia’s economy – Higher School of Economics

Macroeconomic stability in Russia may be destroyed by the government's attempt to accelerate economic growth in conditions of approaching technical recession – warned experts from the National Research University – Higher School of Economics in their new report. From their point of view, the worse thing Russia’s government may do today it to just pump money into the economy to support the GDP growth rate.

Russian insurers being taken to a special depository

Insurance companies in Russia engaged in obligatory types of insurance and life insurance will be put under a special depository’s control. The correspondent amendment to the professional law on insurance was proposed by the first vice-prime minister Igor Shuvalov. Insurers disliked the idea deeply: the financial “megaregulator” hasn’t even been formed yet, and the government is already “cracking down” on them.

Memo raises concerns over FTT effect on bonds

Grave doubts have been raised over the proposed introduction of a financial transaction tax - or Tobin Tax - after civil servants from participating nations alleged it could damage the bond market.

Financial Accounting Foundation names Russell G. Golden chairman of the Financial Accounting Standards Board

Russell G. Golden today was named as the next chairman of the Financial Accounting Standards Board (FASB), effective July 1, 2013. The appointment was made by the Board of Trustees of the Financial Accounting Foundation (FAF), which oversees the FASB and its sister organization, the Governmental Accounting Standards Board. Mr. Golden will succeed current FASB Chairman Leslie F. Seidman, whose term ends on June 30.

GASB improves reporting for nonexchange financial guarantees

The Governmental Accounting Standards Board (GASB) today approved a new Statement that provides accounting and financial reporting guidance to state and local governments that offer nonexchange financial guarantees and for governments that receive guarantees on their obligations.

FASB issues standard on the liquidation basis of accounting

The Financial Accounting Standards Board (FASB) today issued an Accounting Standards Update (ASU) that improves financial reporting by clarifying when and how public and private companies and not-for-profit organizations should prepare statements using the liquidation basis of accounting. ASU No. 2013-07, Presentation of Financial Statements (Topic 205): Liquidation Basis of Accounting, is effective for interim and annual reporting periods beginning after December 15, 2013, with early adoption permitted.

Restrictions on cash settlement in Ukraine may come into effect in May

Restrictions on cash settlement of transactions in Ukraine is approaching quicker than many expected, although disputes around such possibility have lasted long enough. As of today the National Bank is making preliminary conclusions of public discussions. After it is done with it, the corresponding final decision will be made.