Новости

Rules for independence of auditors from their SROs

Auditors in Russia will be independent from self-regulatory organizations they belong to: the corresponding rules to ensure their independence have recently been developed.

Russia wants to amend its Constitution to prohibit dollars

A deputy from The “United Russia” political party is working on amendments to the law on the “Central Bank” to make the economy 100%-based on roubles. The deputy’s name is Eugeny Fedorov – according to him, the corresponding amendments will have to be introduced to the Constitution as well.

List of auditors who gave positive reviews to bankrupting banks again sent to financial supervisors

The scandal around “convenient” audit companies in Russia continues. The Deposit Insurance Agency has presented the Federal Service of Financial and Budgetary Oversight (aka “Rosfinnadzor”) a new “blacklist” of audit companies which used to sign “flawless” audit reports on accountancy of banks when there were already overdue credits on their balances. Those banks later went bankrupt.

Individual auditors will have to inform on suspicious transactions together with audit companies

The Ministry of Finance of the Russian Federation has published the third draft of amendments to the law which regulates audit in banks.

EFRAG Call for Evidence – Experiences with IFRS 8 Operating Segments

The IASB has launched a post-implementation review of IFRS 8 Operating Segments. In order to prepare a response to the IASB’s Request for Information, EFRAG is calling for evidence from preparers, users, auditors and academics across Europe.

FASB issues Accounting Standards Update to simplify testing of indefinite-lived intangible assets for impairment

The Financial Accounting Standards Board (FASB) today issued Accounting Standards Update No. 2012-02“Intangibles - Goodwill and Other (Topic 350): Testing Indefinite-Lived Intangible Assets for Impairment”. The Update simplifies the guidance for testing the decline in the realizable value (impairment) of indefinite-lived intangible assets other than goodwill. Examples of intangible assets subject to the guidance include indefinite-lived trademarks, licenses, and distribution rights. The standard applies to all public, private, and not-for-profit organizations.

IAESB proposed revised standard on professional values, ethics, and attitudes

The International Accounting Education Standards Board (IAESB) today released for public exposure a proposed revision of International Education Standard (IES) 4 “Initial Professional Development-Professional Values, Ethics, and Attitudes”.

Russian auditors stumble over questions on professional ethics

The Unified certification commission of Russia has published aggregate results of qualification exams for auditors they took in the second quarter of 2012. To remind you, we’re here taking about the controversial “simplified qualification exam” which is still causing many problems.

Private entrepreneurs in Russia will be freed from financial accounting in 2013

In its explanatory letter from 17 July 2012 the Ministry of Finance of the Russian Federation “freed” private entrepreneurs from financial accounting, because earlier there was a big confusion in relation to the new law “On financial accounting”, approved in November 2011 and coming into force in 2013.

Two scenarios for development of Russia’s economy: “bad” and “very bad”

This information was presented to the Dmitry Medvedev’s government. Experts from the National Research University – Higher School of Economics have prepared two scenarios for Russian economy’s development during the next three years: the first one is denoted as “bad”, the second one – as “very bad”. Both of them promise fall of GDP, rouble devaluation and capital outflow.