Новости

IIRC Releases Prototype of the International <IR> Framework

The International Integrated Reporting Council (IIRC) today releases a Prototype of the International Integrated Reporting (<IR>) Framework, a significant further step towards publication of version 1.0 of the Framework in 2013. Releasing the Prototype Framework is an interim step intended to demonstrate progress towards defining key concepts and principles that underpin <IR>, and support organizations’ ability to produce an integrated report.

IASB work plan updated

The International Accounting Standards Board (IASB) has publicly released a revised work plan following a number recently published pronouncements. The expected finalisation of amendments resulting from the proposed equity method amendments to IAS 28 and the 2011-2013 annual improvements cycle has been announced, and the release of an exposure draft on financial instrument impairment has been deferred.

The law on foreign investments amended to allow easier access to strategic enterprises

The law on foreign investments in strategic industries has become the main subject for discussion during the business meeting between Vladimir Putin and head of the Federal Antimonopoly Service Igor Artemiev.

The way to create the financial “megaregulator” in Russia finally approved

It looks like the government of Russia and the Central Bank are done arguing around creation of the “megaregulator” for financial markets in Russia. Last Friday there was a meeting during which it was decided to recommend Dmitry Medvedev (currently the prime-minister) to liquidate the Federal Financial Markets Service by 2016. 

GAAP-IFRS.COM Digest: November 19-23

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

Ukraine’s regulators simplify listing requirements

The National Securities and Stock Market Commission (NSSMC) changed requirements for listing. On the one hand, the minimal threshold for monthly turnover was, on the contrary, raised – this decision was met by most of market participants with due displeasure. On the other hand, loss-making companies were allowed to participate in listing, also – all the ones who manage to make an IPO.

Minfin’s changing the new law on financial accountancy which is not even in effect

This week Russia’s government informed that the Ministry of Finance is going to adopt amendment to the Federal law “On financial accountancy”, approved on 6 December 2011 and expected to come into force on 1 January 2013. The necessity to adopt amendments is explained by the fact that on 1 February 2012 Russia signed the international OECD’s Convention on Bribery of Foreign Public Official.

Bank regulators offer new stress testing scenarios and guidance

In what has become an annual event, for the next month financial institutions will be finalizing stress tests mandated by the Dodd-Frank Act and must submit their capital plans to regulators by Jan. 7.

FRC announces new accounting standards for the UK and Republic of Ireland

These new standards are issued as part of the FRC’s fundamental reform of existing accounting standards. The standards will be applicable to all companies and entities in the UK and Republic of Ireland, other than listed groups. They will be effective from 1 January 2015, but may be adopted early.

FCPA Guidance Released

Federal regulators have finally published their long-awaited guidance on the Foreign Corrupt Practices Act: a 120-page compendium of cases, explanations, recommendations and other observations about the law. The guidance does not seem to offer any clear affirmative defenses for FCPA violations, as many had hoped, but it's bound to give compliance officers bed-time reading for weeks. Compliance Week will have more throughout the day.