Новости

Big Four auditors on spearhead of sustainable development

Auditors from most economically developed countries are today thinking of how to ensure companies’ commitment to the Sustainable Development Goals which were formulated this year. Being experts in analysis, monitoring, compliance, etc., it is no wonder that auditors today stand on spearhead of the progress.

Kudrin expects a prolonged crisis

Russia’s ex-financial minister (by the way, Euromoney’s “Finance Minister of the Year 2010”) Alexei Kudrin shared his expectations concerning the new crisis which is now flaming up in Russia in the recent interview to RBC.

AAOIFI issues a new standard on investment accounting

The Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) recently issued a new accounting standard for investment accounting - FAS 27 «Investment accounts». This one will replace two previous standards from the same organization, FAS 5 «Disclosure of Bases for Profit Allocation between Owners’ Equity and Investment Account Holders» and FAS 6 «Equity of Investment Account Holders and Their Equivalent».

GAAP-IFRS.COM Digest: 22-28 December 2014

Certain experts already proclaim commencement of the banking crisis in Russia

This Friday the Russian business edition “Vedomosti” wrote that in Russia, banking crises happen approximately once in 5 years. The previous one was in 2009, so it’s about time… Russians will experience it to the full extent in 2015.

Russian banks acquired access to a SWIFT “equivalent”

A mere possibility of being disconnected from the Society for Worldwide Interbank Financial Telecommunications (SWIFT) has been keeping Russian banks nervous probably since the middle of summer. Although a complete replacement for it (we mean, with the same functionality) hasn’t been developed yet, a temporary solution may be put to use even if that – the disconnection – happens.

CB of Russia setting new ceiling for rates on deposits

After the recent unfavorable economic shocks people in Russia started to withdraw money from banks. Facing severe shortage of liquidity, banks increased interest they pay on deposits.

Mortgage loans in foreign currency may be completely forbidden in Russia

Taking into account the recent negative experience of foreign currency borrowers, deputies of the State Duma of Russia have plans to prohibit foreign currency mortgages in general.

FASB issues new guidance on accounting for intangible assets in private companies

This week the Financial Accounting Standards Board (FASB) presented its new accounting guidance for private companies, proposing a simplified approach to identifiable intangible assets acquired in mergers and acquisitions (Topic 805). Simplifications were earlier recommended for approval by the Private Company Council (PCC).

Merry Christmas!