Новости

“Third antimonopoly package” sighed by president Medvedev

Russia’s president Dmitry Medvedev has signed the third “antimonopoly package” (as it is called in Russia) of amendments to the legislation on protection of competition and other laws. The new law specifies special notions like, for instance, “vertical agreement” and “federal or municipal preferences”, or “restriction of competition”.

ESMA gathers worldwide supervisors to discuss enforcement of IFRS

Accounting enforcers from around 30 countries met on 1 and 2 December 2011 in Paris, following an invitation by ESMA to discuss International Financial Reporting Standards (IFRS), enforcement systems and enforcement decisions.

ICAS Raises Questions on EC Changes to Audit

ICAS fully supports the need for the European Commission to address the issues of auditor independence and perceived conflicts of interest in the aftermath of the financial crisis.

Non-government pension funds in Ukraine will evaluate their assets by a new methodology

Ukraine’s financial market regulators have prepared a new methodology to evaluate assets of non-government pension funds which will allow them to revalue problematic investments. According to estimations of the market's participants, decrease of pension assets’ value on the market won't exceed 10%.

Russian insurers want tighter supervision under IFRSs

Top-managers of leading insurance companies in Russia think that higher quality of supervision and control on the insurance market is possible only with IFRSs. Experts say that insurers should be obliged to disclose their final owners and to disclose REPO transactions and off-balance sheet obligations.

IFAC Issues Proposed International Guidance to Help Accountants Improve Internal Control

The Professional Accountants in Business (PAIB) Committee of the International Federation of Accountants (IFAC) has issued proposed International Good Practice Guidance, Evaluating and Improving Internal Control in Organizationsfor public comment.

AICPA to IASB: Completion of Conceptual Framework Is Key

The AICPA’s senior technical committee for financial reporting advised the International Accounting Standards Board (IASB) to continue focusing on completion of a conceptual framework, including a presentation and disclosure framework. The IASB requested the feedback when it issued its Agenda Consultation 2011 in July.

EU to break Big Four stranglehold

The European Commission has unveiled radical proposals to break up the dominant Big Four accountancy firms as it tries to deal with “serious weaknesses” in the audit market. Legislators claim the plans will eliminate conflicts of interest and are urgently needed to reinforce confidence and prevent repeats of pre-crisis errors.

Russia slightly better with corruption

According to the annual Corruption Perceptions Index (CPI) composed each year by Transparency International, this year Russia holds 143rd place out of 182 possible. This is slightly better than last year’s 154th place, although not much better anyway.

Bank for Development proposed to lift all restrictions on participation of foreign investors in capital of SMEs

The Bank for Development (aka "Vnesheconombank") of Russia has proposed to lift all restrictions on participation of foreign governments and foreign companies in capital of smaller entities.