Новости

Islamic finance pressured to join accounting mainstream

Rapid growth of Islamic finance is increasing pressure for the industry to enter the accounting mainstream, by seeking guidance from the International Accounting Standards Board (IASB), the global body which sets the tone for book-keeping in conventional finance.

Six more types of fraud in Russia

Crime never stays the same and constantly changes, which is why the Supreme Court of Russia has officially introduced six more times of fraud. Which are those?

MICEX-RTS switching to a new payment system, easier for investors

Largest Russian stock exchange – MICEX-RTS – has presented a concept for the new payment system which will allow to carry our financial transactions without full asset backing and with postponed exercise date. Liberalization of settlement of accounts will turn into additional requirements.

“Professional judgment” for the financial markets regulator as well

We’d like to remind you that not long ago the Central Bank of Russia asked for a right of “professional” (or, as it is called alternatively, “motivated”) judgment. Now a similar option is asked for by the Federal Financial Markets Service (FFMS).

Former Chairman of the IASB to be joined by Vice Presidents Brendan Nelson and Jann Brown

Sir David Tweedie is to become the next President of ICAS - the professional body of CAs. Sir David, who is regarded as one of the world’s most influential accountants, takes up the role on 20 April, 2012.

Representatives of IASB and ASBJ hold biannual meeting

Representatives of the International Accounting Standards Board (IASB) and the Accounting Standards Board of Japan (ASBJ) met on 2 April 2012 in Tokyo. This meeting was the fifteenth in a series of discussions between the IASB and the ASBJ.

Russian insurers may get their own ombudsman

It is possible that Russia will adopt a new job position in the insurance sector – “an insurance ombudsman”. He or she will have sort of “diplomatic” immunity and a right to carry firearms for personal protection.

Tweedie wants audit and reporting "evolution"

Incoming ICAS president Sir David Tweedie has called on the profession to restore confidence among its stakeholders by improving financial transparency and audit rigour. The former IASB chairman said "the status quo is not an option" and lessons should be learned from the financial crisis. However, he warned against turning accountancy upside down.

Australian research report sheds light on sustainability reporting

The Australian Centre for Corporate Social Responsibility (ACCSR) has released a research report on how stakeholders read sustainability reports, how they use them, how this affects an organization’s reputation, and what causes stakeholders concern.

Pension funds in Russia won’t see promised accounting changes

The order was developed in November by the Federal Financial Markets Service, but today lawmakers are seemingly worried by way too different issues, so the document is stuck in ministries and will unlikely see the light before inauguration of the new president and formation of the new government.