Новости

Lists of tax evaders will be published in the Web

Names of Russian tax evaders will be known to public. Such lists will be published in the Internet (for instance, at the website of the Federal Tax Service) and in other media sources. Those will contain names of those people who haven’t complied with officially received directions to pay overdue taxes and fines within two months after expiration of all terms.

Double-entry bookkeeping made optional for micro entities in Russia

This week the Ministry of Finance reminded of its plans to reform financial accounting and reporting starting from 2013. The Minfin reminded that micro entities would possibly be freed from double-entry bookkeeping, one of the major fundamental principles of modern accounting.

EU to make CRAs liable for investors’ losses

The European Union has approved rules to regulate activity of credit rating agencies where it relates to issuing of credit ratings to European financial institutions. The set of measures is aimed to minimize short-term effects of credit revaluations on the current value and yield of financial securities, including federal bonds. Another suggestion on creation of a separate pan-European rating agency which was discussed earlier hasn’t found much support yet.

FEE publishes policy statement on the EC proposals for the recast of the 4th and 7th Accounting Directives

On 25 October 2011 the European Commission published proposals for revising the Accounting Directives and the Transparency Directive which have been discussed widely throughout Europe. The final report of the European Parliament Legal Affairs Committee (JURI) of 25 September 2012 however seems to indicate that there is a gap between the views in the European Parliament and the Council.

FRC issues Feedback Papers on responses to consultation documents on Sanctions Guidance and Disciplinary Schemes

The Financial Reporting Council today issues Feedback Papers that summarize the comments received in response to its consultation documents: Sanctions Guidance to Tribunals and Disciplinary Schemes – Proposed Changes. These Papers also outline proposed amendments in response to those comments.

EFRAG issues a Draft Comment Paper on “Emissions Trading Schemes”

The European Financial Reporting Advisory Group (EFRAG) has published today the Draft Comment Paper on “Emissions Trading Schemes”. Preliminary views are formulated and expressed at this stage of the due process.

IFAC releases revised Statements of Membership Obligations

The International Federation of Accountants (IFAC), the global organization for professional accountants with members and associates in 129 countries, today released the Statements of Membership Obligations (SMOs) 1-7 (Revised), The SMOs—which are globally recognized as a framework for credible and high-quality professional accountancy organizations (PAOs)—form the basis of the IFAC Member Body Compliance Program and are also of relevance to regulators, educators, the donor community, and others with responsibilities for developing the accountancy profession and promoting the value of professional accountants worldwide.

IASB publishes proposals for amendments to IAS 16 Property, Plant and Equipment and IAS 38 Intangible Assets: Clarification of Acceptable Methods of Depreciation and Amortisation

The International Accounting Standards Board (IASB) today published for public comment an Exposure Draft of proposed amendments to IAS 16 Property, Plant and Equipment and IAS 38 Intangible Assets.

CB of Russia asking banks to disclose statistics on plastic card fraud

The Central Bank of the Russian Federation proposed banks to disclose statistics on transactions with plastic cards which became subject to fraud. Bankers complain that this will only increase labor expenses while their client fear that banks don’t want to do that because they are not so eager to compensate funds stolen from their clients’ cards.

MICEX adopting “T+2”

Yesterday a newer version of rules for trading on the Moscow Interbank Currency Exchange came into force. As part of adoption of the “T+2” technology new trading regimes with partial securitization will be available (for example, something called “Basic trading regime +” and “Negotiated deals mode with the central counteragent”).