Новости

Struggle against money laundering in Russia intensifies further

The Federal Financial Monitoring Service intensifies struggle against money laundering. The body proposes imprisonment for “laundering” of sums of money ten times smaller than today.

Deloitte comment letter on materiality in financial reporting

Deloitte’s IFRS Global Office has submitted a letter of comment to the ESMA in response to its Consultation Paper, Considerations of materiality in financial reporting.

US FASB weighs reform to accounting used by MF Global

The U.S. accounting standard-setting board could this year revamp the accounting treatment that MF Global used to mask risky European sovereign debt exposure, an official at the board will tell lawmakers on Wednesday.

“Professional judgment” should be made responsibly

Head of the State Duma’s financial markets committee Natalya Burykina thinks it is necessary to adopt certain regulations for the Central Bank’s “motived judgment” made incorrectly.

Russian bankers asking to let more banks to government finances

Bank experts are asking to let more banks to financing by the CB and the finance ministry. They also think it would be a good idea to get back to issuing of subordinated credits which were used to support liquidity during the crisis 2008-2010.

Bank of Russia taking ATM machines under control

The Central Bank of Russia wants to eliminate certain tax evasion schemes which are related to bank terminals. Not only non-banking, but also suspicious banking terminals will be equipped with cash registers for control purposes.

FRC welcomes Government statement on its reform

The FRC welcomes the Government’s intention to bring forward proposals to provide it with a reformed set of statutory powers following the joint consultation on FRC reform.

Russia to exchange tax information with Italy

The State Duma of Russia ratified a protocol last Friday to amend Russian-Italian double taxation treaty. During the document’s presentation deputy chairman of the Ministry of Finance Sergei Shatalov informed on the renewed version of the clause dedicated to exchange of information for taxation purposes.

“Simpler Reporting for the Smallest Businesses” - joint BIS FRC update

On 25th August 2011, the Department for Business Innovation and Skills (“BIS’) and the Financial Reporting Council (“FRC”) jointly published a discussion paper on “Simpler Reporting for the Smallest Businesses”. The paper set out ideas to reduce the amount of reporting micro-entities would be required to undertake.

EFRAG invites companies to participate in a supplementary study on how IFRS 10 will affect the consolidation of Special Purpose Entities (SPEs)

This supplementary study is intended to serve as input to the impact assessment of IFRS 10 by the European Commission, in addition to, and separately from, EFRAG endorsement advice. It is meant to illustrate the impacts of IFRS 10 Consolidated Financial Statements on the scope of consolidation in relation to Special Purpose Entities (SPEs).