Новости

IFAC and IVSC strengthen collaboration to improve confidence in business reporting

The International Federation of Accountants (IFAC) and the International Valuation Standards Council (IVSC) have renewed their Memorandum of Understanding (MoU), first signed in 2009.

Rosatom to be audited by Nexia Pacioli again

Rosatom finished the tender on choosing the auditor for its annual financial accountancy-2012 (prepared by Russian national accounting standards) and consolidated financial accountancy (under IFRSs).

Chinese rival for the “Big Three”?

Chinese rating agency Dagong is creating a joint enterprise together with Russian RusRating and American Egan-Jones Ratings. The “alliance” plans to compete directly with the “Big Three” (Moody’s, Fitch and S&P) in “BRICS” countries (Brazil, Russia, India, China and the South African Republic).

SEC no closer to IFRS Taxonomy approval for XBRL

More than a year after all U.S. publicly traded companies were required to provide their financial statements formatted in XBRL, the Securities and Exchange Commission still hasn't approved a taxonomy for use by companies that prepare their financial statements under International Financial Reporting Standards -- and there's no clear path or time line for the SEC to do so.

EU Commission backs 10 country FTT plan

The European Commission has confirmed its support of a plan by 10 EU countries to apply a financial transaction tax (FTT) through enhanced cooperation with claims that the tax can raise billions of euros of much-needed revenue for member states and will create a stronger, more cohesive single market.

Private Company Council chair favors holistic approach over differential standards for public, private companies

The chairman of the new Private Company Council envisions trying to change FASB standards for all users before attempting to create exceptions or modifications to standards for private companies.

Banking agents put under control in Ukraine

The National Bank of Ukraine plans to control operations of banking agents which provide banking services. Such institutions will be mandatorily registered in the central bank’s special register. Market participants welcomed the idea because today operations of banking agents are not regulated, and there is much fraud in this sector. Supervision won’t affect individuals, though – only legal entities.

U.S. leadership position among accounting bodies at stake if progress toward IFRS, convergence stalls, Melancon warns

The U.S. must keep pushing for convergence of U.S. GAAP and international standards, AICPA President and CEO Barry Melancon urged in a speech Monday.

Minfin to make accountants’ life a bit easier

Government officials in Russia are ready to give a hand to business and simplify financial accounting rules a bit.

Trustees publish IFRS Foundation Staff Analysis of SEC Final Staff Report on IFRS

The Trustees of the IFRS Foundation today published a staff analysis of the United States (US) Securities and Exchange Commission (SEC) Final Staff Report on International Financial Reporting Standards (IFRSs). The SEC Staff Report, issued on 13 July 2012, represented the culmination of almost two years’ work by SEC staff to analyze the issues related to the possible incorporation of IFRSs into the US financial reporting regime.