Новости

Duma acquires a law on “undesired” foreign organizations

Yet another law potentially annoying for foreign organizations – in addition to the already effective one, on “foreign agents” – will soon be considered by the State Duma of Russia. This Thursday it acquired a specific draft project on undesired foreign and international organizations which may potentially impose a threat to Russia’s constitutional order, state security, also public order and health of its population, as it follows from the message on the website of the parliament’s lower chamber.

OPEC meeting concluded not in Russia’s interests

The meeting of OPEC members yesterday ruined Russia’s hopes for at least partial recover of crumbling oil prices. It was decided to keep the current oil production quota (30 million barrels per year) which hasn’t been changed since December 2011. And it will stay untouched at least until the next June because the organization’s general secretary Abdalla Salem El-Badri promised to look at the market’s reaction first and make decisions later, which means – not in the nearest half a year at least.

Ethics Boards proposed amendments to the Code

This week the International Ethics Standards Board for Accountants (IESBA) presented a set of proposed amendments to its main document – the Code of Ethics for Professional Accounts.

Brent hits a 4-year minimum

The Brent crude oil price today went down lower $77 dollars at the ICE (in London). A January 2015 futures contract had price of $76.49 this morning. TASS informs that it is the lowest price in four years.

IASB issues narrow-scope amendments to IFRS 2

The International Accounting Standards Board today published an exposure draft of future narrow-scope changes to IFRS 2 “Share-based payments” which goes by the name «Classification and Measurement of Share-based Payment Transactions». The proposed changes already held a discussion at the IFRS Interpretations Committee.

What’s the possible danger of an alternative GAAP for private companies?

The Private Company Council (PCC), as we know, is actively working to simplify financial accounting for small American private companies. This may be okay – provided that they stay private.

Capital flowing out of Russia “like mad”

The Investigative Committee – which was created in 2011 as a body subordinate directly to the president of Russia – promises to take its own measures to stop the process of capital withdrawal abroad. Head of the body Alexander Bastrykin is sure that the money Russia now loses could have been used to cope with negative effects of economic sanctions. Experts, however, notice in that an already familiar process of gradual “activation” of all resources available to the government to solve the problem: losses to the economy as a result of capital outflow are getting too hard and impossible to ignore further.

Russia promises to back off on its former plans to nationalize foreign property

Russian government authorities are not planning to nationalize foreign companies assets located in Russia – head of the Ministry for Economic Development Alexei Ulyukaev promised today.

GASB’s “Preliminary Views” on fiduciary responsibilities

Recently the Governmental Accounting Standards Board (GASB) issued yet another publication from the “Preliminary Views” series – this time on the subject of fiduciary responsibilities and how they should be reported in financial accountancy of federal and municipal government entities.

Audit Chamber of Russia criticizing CB for its monetary policy

Russia’s state auditors from the Accounts Chamber (which performs analysis of how well government entities function) recently announced that the Bank of Russia must have been excessively blocking credit institutions’ access to capital. In today’s economic conditions, they say, this may have a very negative effect on the economy.