Новости

One in five Russian banks improperly discloses information on property structure

According to the Central Bank’s official data, out of 485 commercial banks in Russia currently disclosing information on their final beneficiaries and owners on their websites 100 banks do that with violations. Provision of the same information to the Bank of Russia to be further published on its website improves discipline.

Minfin wants to increase the number of auditors in Russia

The Ministry of Finance of the Russian Federation has recently published a work plan–2013 of the Audit Council’s working committee (one month ago the ministry also published a work plan of the Audit Council itself). What’s worthy attention here is that certain clauses of those two documents are, in fact, identical.

Hong Kong is still on top of Bloomberg’s list

According to the data annually compiled by Bloomberg, this year Hong Kong again tops 50 countries most suitable for doing business. The United States of America and Japan are the rest of the leading three. There are no counties from the BRICS block among those 50 except for only one – China. Ukraine didn’t make it either.

If you build it, they may not come

A new report out from Columbia Business School is likely making anyone involved in the corporate reporting process feeling like they just spent months building a ballpark in a cornfield, only to find that no one seems to be showing up.

Research paper on IFRS compliance across Europe shows inconsistencies

A recent research report by the Centre for Financial Analysis and Reporting Research (CeFARR) at the Cass Business School entitled 'Accounting for asset impairment: a test for IFRS compliance across Europe' shows inconsistencies in IFRS compliance reflected in European listed companies' impairment reporting practices.

GAAP-IFRS.COM Digest: January 21-25

A “digest” of the most interesting, important or sometimes even funny that we added for the last week.

Only 10 out of 117 audit companies in Russia have absolutely no violations committed

The Federal Service of Financial and Budgetary Oversight (aka “Rosfinnadzor”) has published an updated version of its report on results of external checks of Russian audit companies’ work.

Moscow Stock Exchange promised larger dividends to its investors

The Moscow Stock Exchange promised increased dividends to all investors who will participate in its IPO. By 2018 those shareholders’ dividends may rise to 50% of profits. As for profits, those are expected to double by that moment.

The Bank of Russia will watch after financial condition of banks’ owners

The Central Bank of the Russian Federation has plans to watch after economic welfare of not only banks, but their large owners as well. Today the regulator checks their financial situation only once – the moment they enter the bank’s capital. It is possible that one year later this will be done regularly. Owners with serious financial problems may be easily removed from their portfolio management by the banking regulator.

EFRAG has issued its comment letter on the CICA research paper: Toward a Measurement Framework for Financial Reporting by Profit-Oriented Entities

EFRAG has issued its comment letter on the CICA research paper: Toward a Measurement Framework for Financial Reporting by Profit-Oriented Entities. The letter and the feedback statement can be downloaded here.