Новости

SAICA assists micro entities to ease the burden of financial reporting

In response to the requests from the accounting profession servicing the SME market and micro entities across South Africa for guidance that will simplify and reduce the cost to prepare financial statements for micro entities, the South African Institute of Chartered Accountants (SAICA) has developed a guide for applying the International Financial Reporting Standard for Small and Medium-sized Entities (IFRS for SMEs) to a micro entity.

“Megafon” asking for permission to list in London

This Monday one of the largest Russian telecommunication companies “Megafon” sent a formal request to the Federal Financial Markets Service.

European companies used to bribery

According to American laws, companies aren’t able to bribe foreign public servants – otherwise this will be a violation for which they’ve already paid the government approximately $3 billion in fines.

Barclays suspected in even more machinations

British regulators have initiated yet another investigation against Barclays, which this time is suspected in massive-scale financial machinations. The subject for investigation will become the bank’s business related to the investment fund Qatar Investment Authority. No details are disclosed at the moment due to the ongoing inquest.

Russian insurers now interested in international standards

Representatives of several Russian insurance companies have signed a memorandum on cooperation between participants of the Russian insurance market and ACORD – the Association for Cooperative Operations Research and Development, which is a global non-commercial association of insurers united to develop and apply standards for insurance and reinsurance activity.

Britain planning another “tax on rich”

It is possible that a new additional – and temporary tax on wealthy citizens will be introduced in Great Britain. The idea was shared by Nick Klegg, the leader of Liberal Democrats, in the interview to The Guardian.

AICPA, NASBA mark one year of international CPA exam administration

The American Institute of CPAs and the National Association of State Boards of Accountancy this month celebrated the one-year mark since the launch of the U.S. CPA examination at test sites in Japan and the Middle East.

FASB reverses decision on accounting for interests in other investment companies

At its meeting yesterday, the United States Financial Accounting Standards Board (FASB) reversed its position on a joint decision made recently with the IASB on the measurement requirements for an investment company’s interest in another investment company.

2013 U.S. GAAP Financial Reporting Taxonomy now available for public review and comment

The Financial Accounting Standards Board (FASB) today released the proposed 2013 U.S. GAAP Financial Reporting Taxonomy for public review and comment. The deadline to submit written comments is October 29, 2012.

Bank regulators consider stress testing delays

Banking regulators announced on Monday that they will consider changes to the implementation timeline for stress testing required by the Dodd-Frank Act. The revision under consideration by the Office of the Comptroller of the Currency, Federal Reserve Board and Federal Deposit Insurance Corporation, would delay implementation for covered institutions with total consolidated assets of between $10 billion and $50 billion until September 2013.