Новости

IASB maps out future programme of work following conclusion of three yearly public consultation

The International Accounting Standards Board (IASB) today rounded off its far-reaching public consultation on its future agenda by releasing a Feedback Statement that maps out its future priorities. The public consultation featured a programme of public discussions, meetings with investors and online discussion forums that involved thousands of interested parties across more than 80 countries. The IASB received more than 240 comment letters in response to the consultation document that it had published in July 2011.

CB of Russia will possibly be allowed to control rates on deposits

This Friday the State Duma of Russia plans to discuss amendments to the law on the Central Bank in the first reading. It is possible that the banking regulator will be given a right to directly restrict interest rates on deposits which banks offers to their clients.

Moscow Stock Exchange adopts a single base for calculation of MICEX & RTS indexes

The new base corresponds to the principles of formation of a single set of indexes for the Moscow Stock Exchange and includes 50 companies with the largest capitalization.

Morgan Stanley to pay $5 million for playing unfair with Facebook shares

One of the largest American banks - Morgan Stanley – was the main underwriter during the initial public offering of Facebook, and it will pay a large 5 million dollars fine to the Massachusetts state. The bank was found guilty in violation of laws which regulate disclosure of analytical data.

Ernst & Young thinks capital outflow from Russia is smaller than it is thought to be

Official - and really large - estimations of capital outflow from Russia may be exaggerated – think economists from the Russian Direct Investment Fund (RDIF), the audit company Ernst & Young, and the Moscow State University. They all propose an alternative methodology for calculations which doesn’t take into accounting foreign transactions and offshore investments. However, the new method is also more suitable for politicians rather than financiers.

Republicans ready to trade the millionaire tax for government spending cuts

Negotiations in the US Congress continue. John Boehner, currently the speaker of the United States House of Representatives, has agreed to increase taxes for the rich who earn more than 1 million a year.

UBS may pay $1.6 billion for manipulations with LIBOR

The Swiss bank UBS, claimed to have participated in manipulations with LIBOR, is in danger of paying $1.6 billion as a fine. This may happen as a result of a voluntary settlement of disputes with financial regulators of Great Britain and the USA.

The very final conclusions of Russia’s government concerning the “megaregulator”

Russia’s government has made the very final decision on how the “megaregulator” will be created. So it was decided that next year a separate FFMS’s division will be formed within the Central Bank, and one year later it will be reformed into a special committee at the CB.

EFRAG's draft comment letter on the IASB's ED/2012/5 Clarification of Acceptable Methods of Depreciation and Amortization (Proposed Amendments to IAS 16 and IAS 38)

EFRAG has issued its draft comment letter to the IASB on its Exposure Draft Clarification of Acceptable Methods of Depreciation and Amortization (Proposed Amendments to IAS 16 and IAS 38) (“the Amendments”) seeking feedback from its constituents. The letter can be downloaded here. Comments are invited on the letter by 11 March 2013.

FASB, CAQ find support for new disclosure framework

The feedback so far on writing a new rule book for accounting disclosures generally supports the idea of creating a benchmark to allow preparers to use judgment in deciding what disclosures are necessary. Views are split, however, on whether to base such a benchmark on relevance of specific bits of information to a given investor group or the more familiar standard of materiality.