Новости

IASB publishes proposals for amendments to IAS 19 Defined Benefit Plans: Employee Contributions

The International Accounting Standards Board (IASB) today published for public comment an Exposure Draft of proposed amendments to IAS 19 Employee Benefits.

Foreigners leaving Russia because of Cyprus

Problems in Cyprus didn’t go unnoticed by foreign investors who are pretty well aware of how strongly Russia depends on this jurisdiction. According to EPFR Global, during the law week (March 14-20) foreign investors withdrew approximately 139 million dollars.

Cyprus evades default, but at what price?

In conclusion to prolonged and complicated discussions between the Cypriot government and the Eurogroup the “financial” fate of Cyprus was at last decided. The country’s president Nikos Anastasiadis said that he was satisfied with the results, although there wasn’t much happiness on his face when he was saying that.

FASB adds three additional implementation guides to the XBRL series

The Financial Accounting Standards Board (FASB) recently added three Implementation Guides to the XBRL series, including two for the insurance industry. The guides are designed to help users of the U.S. GAAP Financial Reporting Taxonomy understand how certain disclosures are structured within the Taxonomy. All guides are available at www.fasb.org.

PCAOB to consider a proposal for the reorganization of auditing standards

The Public Company Accounting Oversight Board has scheduled an open meeting for 9:30 a.m. on Tuesday, March 26, to consider issuing for public comment a proposal for the reorganization of PCAOB auditing standards.

EFRAG's comment letter to the IASB on the transition from IAS 39 to IFRS 9 for macro-hedging practices

EFRAG has analyzed the impact on current macro hedging practices of the transition between IAS 39 and the Review Draft and published today its comment letter to the IASB.

GAAP-IFRS.COM Digest: March 11-15

The Central Bank of Russia will acquire extended privileges under the new governance

The government of Russia has approved amendments to the law to significantly extend authorities of the Central Bank in respect of supervision over banks. Those will have to be approved by the parliament, and it is very likely that they will be. If so, the banking regulator will be able to adopt strict countermeasures against shareholders of credit institutions. It will also be allowed to set higher acceptable thresholds for normative standards for risky players and even to control bonuses paid to top-managers.

Consolidated financial accountancy of standalone companies will be renamed

Not long ago we wrote about a really ironic situation in today’s accounting legislation in Russia when financial accountancy under IFRSs of even single companies not forming financial groups was still called “consolidated”. The Ministry of Finance has prepared amendments to the law “On consolidated financial accountancy” to correct that nonsense. Also, scope of the law’s application will be made wider.

Intermediate results of the Cypriot “saga”

For two days Russia’s been “attacking” the EU positions on the Cypriot issue. The escalating scale of the problem led to a standards decision: there will be salvation for Cyprus, but not of the type everyone is going to like. In the end of March 2013 the country’s banking system will be recapitalized and opened for transactions.