Новости

FFMS of Russia adopts tougher capital requirements

Of course it is not for the first time we write about tougher capital requirements in Russia – but yes, once again, the Federal Financial Markets Service wants professional market participants to have bigger capital. At least that’s what professional market participants figure out from the FFMS’ new order on calculation of equity funds.

Code of ethics for auditors released in Russia

Basic principles of auditors’ work are now stipulated in the new Russia’s Code of professional ethics. Auditors are advised not to participate in cases which may potentially have a negative effect on their reputation and objectivity.

Facebook IPO organizers “assisted” falling of its share price

The scandal around last week’s IPO of Facebook is getting even uglier. Banks that acted as organizers of the initial public offering (Goldman Sachs and JP Morgan), parallel to taking the company’s shares to the stock exchange, also lent them to short-sellers for speculative purposes. This led to falling of share quotations soon after the trade commenced.

Tweedie: Auditors must change “golf course” perception

ICAS president Sir David Tweedie has said that the Big Four must change the perception that their relationships with the FTSE 100 companies they audit are too cosy.

FASB, IASB clear hurdle on financial instruments

Through continued discussions aimed at narrowing differences in accounting standards, U.S. and international rulemakers took a big step this week toward common rules for accounting for financial instruments.

Support for those teaching IFRSs

To support those teaching IFRSs to develop in their students the skills and knowledge needed to interpret IFRSs (including the IFRS for SMEs) and to make the judgments that are necessary to apply it, the IASB’s education initiative has embarked on an extensive Framework-based teaching project.

Sberbank’s SPO delayed again

Looks like privatization of the largest in Russia Sberbank is again postponed. The Central Bank of the Russian Federation (aka “The Bank of Russia”) thinks that it is not wise to be in a rush with that procedure – after all, quality is paramount, not price.

MICEX-RTS plans to refine its IT systems

After a series of scandalous failures the MICEX-RTS stock exchange announced its plans to become virtually one of the most technologically advanced trade grounds in the world. In three years from now it expects to be within Top-5 fastest stock exchanges.

Accounting for emission rights an urgent topic for national standard setters

In November 2010, the IASB deferred its project on emission trading schemes in its movement to concentrate on the major projects of the MoU that were to be finalized by June 2011. With those projects still not finalized and with global sustainability moves resulting in new laws and regulations, national standard setters are beginning to move forward on their own.

Minfin of Russia is ready to adopt 6 new IFRSs

A new draft order by the Ministry of Finance of the Russian Federation was published on its official website yesterday. The order deals with adoption of international financial reporting standards in Russia.