Новости

Eleven principles for effective business reporting processes

The Professional Accountants in Business (PAIB) Committee of the International Federation of Accountants (IFAC) has issued proposed International Good Practice Guidance, Eleven Principles for Effective Business Reporting Processes, for public comment.

IFRS Foundation publishes yet another training module

The Education Initiative work group of the IFRS Foundation has published another module (№31 “Hyperinflation”) for “IFRS for SMEs”.

Ukrainian subsidiaries of MICEX-RTS may be merged in autumn

This year’s fall Ukrainian subsidiaries of the Russian stock exchange MICEX-RTS may also be merged into one. The subsidiaries are PFTS Stock Exchange and the Ukrainian Exchange. There are many technical nuances, though. In fact, Moscow still has no clue on how to make it happen.

Subsidiaries of foreign banks will be able to open their branches in Russia without asking the CB

According to the Bank of Russia’s order from May 17 2012, certain closures of the Central Bank’s general order on registration of foreign credit institutions in Russia have been expired.

Facebook sued for concealment of significant information during the IPO

In the USA investors filed a collective suit against Facebook, claiming that the company had concealed significant information on the eve of its IPO (which, by the way, went much worse than expected even without it).

Auditing body unveils 7 Shariah standards

The Accounting and Auditing Organization for Islamic Financial Institutions, or AAOIFI, announced on Wednesday new seven Shariah standards in Dubai. The new standards include; Financial Rights and its Management, the Regulations of Liquidity Management, Bankruptcy, Capital and Investment Protection, Agency in Investment, Calculation of the Profit Transactions and Options of Trust.

IFAC Applauds the Pan African Federation of Accountants for its Adoption of International Accounting Standards

International Federation of Accountants Chief Executive Officer Ian Ball today praised the Pan African Federation of Accountants (PAFA) for its recent decision to adopt international standards in accounting and auditing, calling it “an important benchmark in underscoring the value of accountancy and the accountancy profession to governments and to business on the African continent”.

Financial Accounting Foundation Establishes New Council to Improve Standard Setting for Private Companies

After seeking and considering extensive public comment, the Financial Accounting Foundation (FAF) Board of Trustees today established a new body to improve the process of setting accounting standards for private companies.

ISDA Publishes Paper Examining Differences in Derivatives Reporting Between US GAAP and IFRS Accounting Standards

The International Swaps and Derivatives Association, Inc. (ISDA) today announced the publication of a paper, "Netting and Offsetting: Reporting Derivatives Under US GAAP and Under IFRS." The paper examines how and why derivatives are treated differently under the International Financial Reporting Standards (IFRS) and US Generally Accepted Accounting Principles (US GAAP) and their impact on the new Basel III Leverage Ratio.

JPMorgan Chase cancelled its buy-back

JPMorgan Chase, the largest American bank (in respect to its assets), cancelled its plans for share buy-back for $15 billion. The bank’s governance says, however, that the decision is not related to its $2 billion losses on which it was informed 2 weeks ago.