Новости

Central Bank of Russia defined significant payment systems

The Bank of Russia is now clear on which payment systems should be seen as the ones of the most importance. Except for the CB’s own system, of course, there are the ones of at least 20 largest banks. To ensure their stable functioning, double supervision will be applied in their respect.

IFRS interpretations committee to get wider brief

The International Accounting Standards Board (IASB) is to extend the activities of the IFRS interpretations committee and issue less rejection notices, following its most recent meeting.

The Financial Reporting Council announces appointment of Richard Fleck as Chairman

The Financial Reporting Council (FRC) has today announced that Richard Fleck will succeed Bill Knight as Chairman of the Financial Reporting Review Panel. Bill Knight retired on 31 March after serving as Chairman for eight years.

MICEX-RTS wants to trade with new currencies

Russian stock exchange MICEX-RTS wants to develop trading with new currencies, such as Great Britain pound or Swiss franc.

Medvedev proposed to abandon “JSC” and “CJSC”

Yesterday Russia’s still acting president Dmitry Medvedev proposed amendments to the Civil Code which mean really serious – some may say even revolutionary changes in corporate legislation. If approved, those amendments will mean replacement of all joint-stock companies (JSCs) and closed joint-stock companies (CJSc) by what is traditionally known everywhere else as public and private entities, respectively.

IPSASB Issues Exposure Draft 47-Financial Statement Discussion and Analysis

The International Public Sector Accounting Standards Board (IPSASB)has published Exposure Draft (ED) 47, Financial Statement Discussion and Analysis - a proposed new standard. The ED proposes minimum required content while still providing sufficient flexibility for entities to prepare and publish financial statement discussion and analysis that best portrays their specific circumstances.

GASB Issues Statements No. 65 and No. 66

The Governmental Accounting Standards Board (GASB) today issued two Statements addressing important practice issues for state and local governments. Statement No. 65, Items Previously Reported as Assets and Liabilities, clarifies the appropriate reporting of deferred outflows of resources and deferred inflows of resources to ensure consistency in financial reporting. Statement No. 66, Technical Corrections—2012, enhances the usefulness of financial reports by resolving conflicting accounting and financial reporting guidance that could diminish the consistency of financial reporting.

Banking regulation in Russia turns to liberalization

Until recently there has been a general tendency to tighten regulation in the banking sector of Russia, but all of a sudden it all turned to the opposite direction not long ago. Banks were allowed to give credits to many categories of borrowers which were previously seen in the “suspicious” category, including even offshore companies.

APB publishes paper on professional scepticism in the audit; announces withdrawal of various documents

The Auditing Practices Board (APB) of the Financial Reporting Council (FRC) today issues a paper that sets out its views on the nature of professional scepticism and its role in auditing.

IFRS Foundation publishes the 2012 annual version of the IFRS Taxonomy; publishes a new guide to the IFRS for SMEs

The IFRS Foundation has published the IFRS Taxonomy 2012. The IFRS Taxonomy is a translation of IFRSs (International Financial Reporting Standards) into XBRL (eXtensible Business Reporting Language). The 2012 taxonomy is consistent with IFRSs as issued by the International Accounting Standards Board (IASB) at 1 January 2012, and contains XBRL tags for all IFRS disclosure requirements.