Новости

Parliament of Cyprus can’t get enough votes to approve the new tax on deposits

This morning the final decision in respect of the new tax on bank deposits in Cyprus wasn’t made yet. The country’s president Nikos Anastasiadis informed that parliament hadn’t collected enough votes to approve it. Meanwhile, if there is no new tax, this virtually means bankruptcy of Cyprus which promised to do that because this was the condition for receiving financial support.

NASDAQ proposes requiring listed companies to establish internal audit function

The Securities and Exchange Commission is asking for public comments on a proposal from NASDAQ to require NASDAQ -listed companies to establish an internal audit function no later than Dec. 31.

Russia paying high price for saving Cyprus

Cypriot government, being under pressure imposed by financial ministers of the Eurozone, agreed to adopt a new anti-crisis tax on bank deposits and to raise the corporate profit tax. This will allow the country to get financial support from Europe, but will also spoil its public perception among investors and lead to outflow of capital.

New publication from IFAC helps professional accountants implement effective business reporting processes in organizations

It is clearly in organizations’ best interest, for their internal decisions and management issues as well as external stakeholder needs, to provide stakeholders with high-quality business reports. The most effective way to accomplish this is to implement effective reporting processes throughout an organization. When done correctly, effective reporting processes ensure that all internal and external stakeholders receive appropriate high-quality business reports in a timely fashion.

IIRC publishes background papers in lead up to consultation draft of integrated reporting framework

The International Integrated Reporting Council (IIRC) has published on its website 'background papers' on two aspects of integrated reporting (stylised as '<IR>'): the concepts of 'capitals' and 'materiality'. The papers are a precursor to the publication of a consultation draft of the IIRC's Integrated Reporting Framework, which is expected in mid-April 2013.

GAAP-IFRS.COM Digest: March 11-15

Saving banks that save others

The Accounts Chamber of the Russian Federation has found another good way to use funds in possession of the Deposit Insurance Agency (DIA). This money may also be used to compensate expenses on banks that agree to accept deposits from citizens – former clients of problematic and liquidated credit institutions.

CB of Russia will watch after the economy

The new CB’s chairperson may first of all face the same challenges she used to deal with when she was the minister for economic development.

GASB publishes new user guide on business-type activities

How are public utilities, airports, hospitals, and colleges and universities supported? How do these institutions spend their resources? How much do they owe, and to whom? A new, easy-to-understand guide to how state and local governments finance and account for their business activities can help answer those questions - and many others. 

FRC issues FRS 102

The Financial Reporting Council, today, issues FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland”; providing succinct accounting and reporting requirements for unlisted entities.