Новости

Financial accountancy of Russian political parties will be made public

“United Russia” plans to introduce amendments to the law regulating political parties in Russia: deputies of the State Duma want to force parties to publish financial accountancy on their websites. The ones to check that accountancy are the Federal Tax Service and the Central Election Commission of the Russian Federation.

EFRAG draft comment letter on IASB Request for Information: Comprehensive Review of the IFRS for SMEs

EFRAG has issued its draft comment letter on the IASB Request for Information: Comprehensive Review of the IFRS for SMEs. The letter can be downloaded here. Comments on the letter are invited by 12 November 2012.

CIMA members earn £58k on average in 2012

Despite the tough economic condition, it appears that accountants in full-time employment are doing just fine as a survey by CIMA of its members reveal that the average qualified management accountants in 2012 is earning £58,434, which includes £5,125 in bonus payments.

Internal audit services have to be improved – E&Y’s survey

In today’s conditions of global financial markets the importance of risk-management and compliance makes 80% of executives seriously think about improvements in their internal audit services. Those are the results of the E&Y’s survey (“The future of internal audit is now”) among 695 executives and leaders of audit committees.

IFRSs in your pocket 2012

An eleventh edition of the famous guidance from Deloitte - "IFRSs in your pocket" - has been issued recently. This one is fully updated with all the recent developments in IFRSs effective as of the end of the second quarter of 2012.

Germany starting to prepare for Greece’s exit from the Eurozone

German ministry of finance has started to consider possible consequences of Greece’s exit from the Eurozone. A special work group has been secretly created within the ministry to develop possible strategies for the case if Greece decides to abandon euro eventually.

Latvia to become a new “favorite” tax heaven for Russians

In 2013 Latvia will adopt a new regime of taxation, freeing business from a whole bunch of obligatory payments. This reform is aimed to attract capital from CIS countries, citizens of which have liked Riga since the moment it started to give residence permits in return for purchasing real estate property. With this new “fiscal maneuver” Latvia may even outplay Cyprus – currently the most favorite tax heaven for Russians who use its companies for tax minimization purposes.

US SEC finalizes rules on disclosure of payments to governments

The United States Securities and Exchange Commission (SEC) has adopted rules, mandated by the Dodd-Frank Act, requiring resource companies to disclose certain payments made to the U.S. government or foreign governments (including subnational governments). The rules require “resource extraction issuers” to disclose payments that are made to further the commercial development of oil, natural gas, or minerals, and are generally consistent with the types of payments that the Extractive Industries Transparency Initiative (EITI) suggests should be disclosed.

IESBA proposes changes to Code of Ethics to address illegal acts

The proposals describe the circumstances in which a professional accountant is required or expected to breach confidentiality, one of the five fundamental principles in the Code of Ethics for Professional Accountants (the Code), and disclose the act to an appropriate authority.

SEC whistleblower program pays out first-ever award of $50,000

The SEC announced today that its Whistleblower Office has issued the first-ever award to a whistleblower. The award of $50,000 was authorized under the high-profile program established under Dodd-Frank in 2010. For several months, there have been rumblings in the quickly-growing whistleblower bar that an award might be imminent. Sean McKessy, chief of the SEC's Whistleblower Office, has declined to confirm those rumors, but said in late May that he was hopeful that the first payouts would come soon and be substantial to help motivate people who might be considering bringing a tip to the government.