Новости

15% from each dollar sold in Ukraine

Today Ukraine’s parliament is discussing a new and to a certain extent already scandalous bill which, if approved, will introduce a fixed 15% tax on all operations with foreign currency in cash. Proceeds from tax collections will go to the Pension Fund – at least that’s what lawmakers say.

Minfin will think how to broaden application of IFRS in Russia

Among other things, it is possible that quarterly publication of consolidated financial accountancy under IFRSs will be made mandatory in 2014.

An “effective rate” for deposits

Sberbank of Russia suggested that the Central Bank should introduce a new notion of a “deposit’s full cost” which is to be included in all bonuses and gifts given to clients for opening an account. The suggestion was given as part of the program for development of the deposit insurance system.

Moscow Stock Exchange will trade on discrete basis in case of a failure

As an alternative to normal continuous trading, the Moscow Stock Exchange will also have discrete alternative trading in reserve. This will become a mechanism to keep market participants safe from rapid price fluctuations.

IVSC consults on valuation of forests

The International Valuation Standards Council (IVSC), the global standard setter for valuations, has today published draft valuation guidance for commercial forests in order to reduce risk to investors.

Bringing certainty to uncertainty

The International Valuation Standards Council (IVSC) has today released an Exposure Draft on valuation uncertainty. The proposed guidance looks at how valuation uncertainty can be identified, explained and disclosed in a way that is informative to those relying on valuations.

IAESB releases revised standard on assessment of professional competence

The revised education standard will help IFAC member bodies and other professional accountancy organizations understand the learning and development requirements for assessing professional competence, and their obligations in upholding the standards.

GAAP-IFRS.COM Digest: November 12-16

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

For-Profit Standards Package Issued

The XRB Board and the New Zealand Accounting Standards Board (NZASB) have issued a package of standards for for-profit entities together with a re-organized suite of NZ IFRS standards for public benefit entities.

IFRS in the US - adoption will happen in the long run, US investors tell ACCA

US investors expect that the country will eventually adopt International Financial Reporting Standards (IFRS), but that the process will take time and need substantial investment in staff and training, finds new research from ACCA (the Association of Chartered Certified Accountants) published today in a report called “IFRS in the US: An investor’s perspective”.