Новости

GASB releases revised White Paper

Governments are fundamentally different from for-profit business enterprises in several important ways. Their organizational purposes, processes of generating revenues, stakeholders, budgetary obligations, and propensity for longevity differ. These differences require separate accounting and financial reporting standards in order to provide information to meet the needs of stakeholders to assess government accountability and to make political, social, and economic decisions.

GAAP-IFRS.COM Digest: 15-19 April

PCAOB undecided on naming engagement partners

More than four years after a Treasury committee urged the Public Company Accounting Oversight Board to consider a rule requiring audit engagement partners to sign their audit reports, the PCAOB is still not decided on whether or how it might require engagement partners to be identified.

KASB publishes paper on business combinations under common control

The Korean Accounting Standards Board (KASB) has published a research report on business combinations under common control, such as group restructures or reorganizations.

An alternative to Cyprus

Russia’s government is preparing an alternative to Cyprus as a former offshore territory. Business will be invited to return money back to Russia - to the International Investment Bank, a former soviet project which was once developed for the purpose of crediting soviet bloc contrives. The bank operates as an independent international organization which implies that it has diplomatic immunity and is exempt to the Central Bank’s regulation. However, financial experts react skeptically because they don’t think this will be enough.

To get capital back to Russia, the government should start with Russian investors first - experts

Sberbank held an investment forum (“Russia-2013”) which was attended by many experts in the field of investments, both from Russia and abroad. Attendants of the forum admitted that abroad Russia is today considered as probably too gloomy, but the government and companies under control of the state also contribute to even further worsening of this perception.

Non-transparent banks will be watched after on everyday basis

Russian banks which hide their real financial condition from the regulator will face another severe challenge – total and everyday supervision, which means a necessity to present financial accountancy virtually every day. A detailed instruction on how this should be done was sent by the Central Bank’s main office to its regional branches.

EFRAG's comment letter on the IASB's ED/2012/7 Acquisition of an Interest in a Joint Operation

EFRAG has published its comment letter in response to the IASB’s Exposure Draft ED/2012/7 Acquisition of an Interest in a Joint Operation.

IPSASB Publishes Public Sector Conceptual Framework Exposure Draf

The International Public Sector Accounting Standards Board (IPSASB) has released for comment the fourth Exposure Draft (ED) related to its project to develop a Conceptual Framework for the general purpose financial reporting of public sector entities. The Conceptual Framework continues to be the IPSASB’s key strategic objective and is of fundamental importance to the future of global public sector standard setting.

“Pseudo-banking” gains momentum in Russia

Discovering fake banks in the internet becomes quite common in Russia. One day you just do internet surfing and suddenly come across a bank about which you haven’t had a slightest idea, but now you look at its website and may even conclude that it is not only real, but also relatively famous with already developed practices. Of course it is all a big fake, and schemes for creating and using such fake banks also experience their own evolutionary development