Новости

No more “dual accounting” in Russia

Serious changes await Russia system of accounting this year. Accountants, managers and companies’ owners are going to see toughening of financial accounting rules. When the new rules come into force, they won’t allow “black” bookkeeping or other manipulations with documents.

Russian accountants won’t be fined for timely correction of accounting errors

The government of Russia has introduced a draft set of amendments for consideration by deputies of the State Duma. If approved, those will free accountants from paying fines in case they make accounting errors. The only thing they have to do is to submit the corrected tax bill on time.

Europe wasn’t able to approve Basel III yet

European parliamentarians weren’t able to reach compromise on new tougher rules for capital adequacy – Basel III. They weren’t able to agree on new rules for bankers’ bonuses and disclosures in bank accountancy either. Next week they’re going to try again.

IFAC Outgoing CEO Calls on Russian Presidency of G-20 to Advance Adoption and Implementation of International Public Sector Accounting Standards

Presenting at “The G-20 Agenda Under the Russian Chairmanship,” a high-level public-private sector conference organized by the Institute of International Finance in partnership with the Ministry of Finance of the Russian Federation, International Federation of Accountants Outgoing CEO Ian Ball called on Russia to use its G-20 Presidency to strengthen global financial stability by supporting adoption and implementation of International Public Sector Reporting Standards (IPSASs).

Financial Reporting Lab report on “Presentation of market risk disclosures”

The Financial Reporting Council (FRC) has today issued a Financial Reporting Lab (Lab) project report on “Presentation of market risk disclosures”.

ESMA comments on the potential widening of the scope of the IFRS for SMEs

The European Securities and Markets Authority (ESMA) has published to its website a second comment letter to the IASB on its comprehensive review of IFRS for SMEs. In the first letter ESMA asked the IASB to continue to prohibit all financial institutions from using IFRS for SMEs. In the second letter ESMA is asking the IASB not to allow publicly traded entities listed on a regulated market to use the IFRS for SMEs.

IFRS Foundation Trustees publish revised version of the IFRS Foundation Constitution

The Trustees of the IFRS Foundation, responsible for the governance and oversight of the International Accounting Standards Board (IASB), have today published a revised version of the IFRS Foundation Constitution.

Russian taxmen always charge fines on field inspections

Field tax inspections are a relatively rare issue in Russia. For taxmen to go “in field” and check companies’ financial documentation, there have to be really serious suspicions. Statistically, only 6 companies out of 1000 are inspected that way. The problem for those 6 out of 1000 is that if they are indeed so unlucky, with almost 100% probability they will have to pay an additional fine, no matter how large or small.

Minfin of Russia published rules for SROs to exercise external control over their auditors

The Ministry of Finance of the Russian Federation today published new rules which had been developed by the Audit Council in September 2012. This document is to be used by self-regulatory organizations of auditors to evaluate quality of audit performed by audit companies (members of those SROs).

Moscow Stock Exchange inviting foreign ETFs

The Moscow Stock Exchange decided to increase the volume of committed transactions by letting foreign index funds (exchange traded funds - ETFs) to the trade process. Today most of those funds are traded on foreign stock exchanges, and usually up to one half of daily turnover is attributed precisely to them.