Новости

“Too much of Facebook”, IPO is a failure

To remind you several days before the IPO top-managers of the company made a decision to increase the amount of shares proposed for listing by 25% (http://gaap-ifrs.com/news/127780). As a result, the market got even more than it was expected to be purchased by investors.

Formula 1 getting ready for IPO

International investors purchased a large stock of shares of Formula One Group from its owner, CVC Capital. The deal followed the announcement that the Singapore exchange (SGX) had given its permission for Formula One’s initial public offering.

FRC seeks greater international influence

The Financial Reporting Council (FRC) has published details of its priorities and funding plans for the coming year, and says a key priority is to exert more influence on the international debate around corporate governance standards.

CGMA Report Reveals Gap in Rhetoric, Reality on Business Ethics

Despite more commitment to ethical performance, pressure to act unethically on rise, study by American Institute of CPAs and Chartered Institute of Management Accountants shows.

FAF trustees expected to rule on private company reporting standards

The much-debated future of private company financial reporting is expected to be decided this week. Proponents of differential financial reporting standards for private companies - and advocates of uniform reporting rules - will turn their attention to Washington on Wednesday as 2 ½ years of formal discussion appear ready to end. The Financial Accounting Foundation (FAF) board of trustees is expected to vote Wednesday on a structure for private company standard setting. The meeting will not be available by webcast or audiocast.

Issuers learned how to evade the Minfin’s tax on Eurobonds

Last Friday it was found out that the State Duma’s committee on budget and taxes had proposed to consider amendments which would not allow the finance ministry to interpret the law in its own favor.

Audit market on the uprise in Russia

It was initially expected that after decreasing the number of companies with accountancy subject to mandatory audit, the audit market in Russia would shrink. However, that didn’t happen.

State Duma left bank secrecy untouched

The State Duma’s budget committee declined proposed amendments to the Tax Code which could allow the Federal Tax Service to request information on movement of funds from one private bank account to another.

Don’t be so defensive, FRC chief tells audit profession

The audit profession has been overly defensive to criticisms leveled at it for its role in the financial crisis, according to the chief executive of the FRC.

IFAC ethics board widens work plan to consider topical issues

The International Ethics Standards Board for Accountants (IESBA) of the International Federation of Accountants (IFAC) has released a Staff Update paper which outlines additional “workstreams” in its work plan to consider topical issues such as auditor rotation, the provision of non-audit services by auditors, the structure of the Code of Ethics for Professional Accountants (Code) and implications of recent accounting irregularities for professional accountants in business.