Новости

Insurance charges will be linked to interest rates

The Ministry of Finance and the Deposit insurance agency of Russia have agreed their positions in respect to risk compensation mechanisms. Changes are needed because of insurance compensation is to be increased from 700 thousand to 1 million roubles.

5 out of 9 audit companies in Russia break the rules

The Federal Service of Financial and Budgetary Oversight (aka “Rosfinnadzor”) has published very first results of its checking the quality of work of Russian audit organizations. At the moment, information on only 9 inspected companies is available, but there will be more.

FASB moves forward with new model for financial instrument impairment

FASB’s new model for impairment of financial instruments is clearing hurdles as the board pursues a different path than its international counterpart on expected credit loss.

The Checkered Legacy of Sarbanes-Oxley

Celebrating its 10th anniversary this year, the Sarbanes-Oxley Act is provoking a retrospective look at the good and bad after-effects of the landmark legislation.

199 Russian banks are in the “danger zone”

According to calculations by the Bank of Russia, if things in the economy don’t go well and oil prices fall, Russian banks may face a serious shortage of capital. In 199 banks possessing 1/3 of all assets the capital adequacy ratio will fall below 10%. To protect the banking system, retail lending growth rates should already be dealt with.

Moscow stock exchange plans to launch futures on foreign shares

The derivatives market committee of the Moscow stock exchange is discussing a possibility to launch a new investment product – futures on shares of foreign issuers.

Russia will redraft its laws for the “Doing Business” rating

The Ministry for Economic Development has done checking the first batch of laws which caused too many complaints: 90% of the documents were recognized as harmful.

SEC Commissioner thinks the U.S. “will get there eventually” on IFRS

In a recent speech to the American Bar Association International Section, U.S. Securities and Exchange Commission (SEC) Commissioner Elisse B. Walter noted that she believed the United States "will get there eventually" with IFRS adoption, but that the time frame was uncertain.

Accounting for the difference between the fair value of the assets and the fair value of the liabilities of a consolidated collateralized financing entity

Topic 810, Consolidation, requires a reporting entity to consolidate a variable interest entity (VIE) if it is determined to be the primary beneficiary of the VIE. As a result, a reporting entity may be required to consolidate a collateralized financing entity, which is a VIE that holds debt instruments and issues beneficial interests in those financial assets. The beneficial interests are financial liabilities that only have recourse to the related financial assets of the collateralized financing entity. In some instances, the reporting entity may not own any of the beneficial interests but may consolidate the collateralized financing entity for other reasons, including a subordinated fee structure. Upon initial consolidation, many reporting entities elect the fair value option to account for the financial assets and financial liabilities of the consolidated collateralized financing entities.

Moving leases to balance sheets has landlords and tenants off balance

Moving leases - real estate, equipment or otherwise - onto balance sheets has been kicked around for some time now, but an agreement recently reached by the International Accounting Standards Board and the Financial Accounting Standards Board could signal that change is actually coming.