Новости

Institutes told to improve audit monitoring visits

Accounting watchdog the FRC has told the profession's regulatory bodies to improve their audit monitoring but argued against restricting the role they play in audit regulation.

IVSC launches new valuation project for mining, oil and gas industries

The International Valuation Standards Council (IVSC) has announced the launch of a new project designed to provide greater valuation guidance to the mining, oil and gas industries.

FASB, IASB chairs spar over impairment plans

Just as the Securities and Exchange Commission shifts greater attention on the convergence effort to bring international accounting standards to the United States, standard setters working to converge U.S. and international rules have parted ways on impairment for financial instruments.

IASB begins public consultation on post-implementation review of IFRS 8

The International Accounting Standards Board (IASB) today began the public part of its review of IFRS 8 "Operating Segments" by publishing for comment a Request for Information (RFI) on the effect of implementing the standard.

Upper Chamber of the Russian parliament approves the law on bankruptcy of credit institutions

The Federation Council (the Upper chamber of the parliament of Russia) has today approved the law to improve bankruptcy procedures for credit institutions. Among other things, it increases liability of liquidated banks’ governance and owners for losses caused by their actions.

Antimonopoly services of Russia want to force partnering banks to compete between themselves

The Federal Antimonopoly Service of the Russian Federation has found a new way to increase competition between banks: the regulators now see a decision not to compete with a partnering credit institution as a violation of the law “On protection of competition”.

EFRAG and the ASB issue Position Paper and Feedback Statement for proactive project “Considering the Effects of Accounting Standards”

The European Financial Reporting Advisory Group (EFRAG) and the Accounting Standards Board (the ASB) of the FRC have today published the Position Paper «Considering the Effects of Accounting Standards» and the related Feedback Statement. The Position Paper has been developed as part of EFRAG»s proactive agenda to contribute to improving the way in which accounting standard setters develop and implement standards throughout their due process, from start to finish.

FASB Seeks Input on Disclosure Framework

The Financial Accounting Standards Board (FASB) issued the Invitation to Comment, Disclosure Framework, to ask for stakeholder input on ways to improve effectiveness of disclosures in notes to financial statements of public, private, and not-for-profit organizations. 

SEC names Beswick acting chief accountant

Paul Beswick, who has worked at the SEC since 2007, was named acting chief accountant. He succeeds James Kroeker, whose last major task as chief accountant was completed Friday, his last day at the SEC. Kroeker’s staff issued its report on IFRS for U.S. public companies, capping a project that began in February 2010.

Da Vinci Capital creating a fund specially for MICEX-RTS’ shares

With approaching IPO of the MICEX-RTS (the exact date is yet to be announced) the investment company Da Vinci Capital, being one of the Moscow stock exchange’s shareholders, is creating a fund, the only asset of which will be shares of MICEX-RTS.