Новости

FFMS of Russia lifts all restrictions on placement of shares abroad

Russian issuers will be able to place 100% of their shares on foreign stock exchanges. The Federal Financial Markets Service plans to allow them to do that starting from 1 January 2013, but only after the law “On the Central depository” comes into force, for it may influence inflow of foreign investors.

U.S.-listed China firms welcome to return home: China official

The main U.S. auditor watchdog and other American institutions have politicized accounting issues involving Chinese firms listed in the United States, a senior Shanghai stock exchange official said on Tuesday, urging those companies to return home.

Predictive Business Analytics: an important aspect of the professional accountants in business’ toolkit

The guidance is designed to help professional accountants in business working in commerce, industry, financial services, education, and the public and not-for-profit sectors, as well as their organizations, embrace predictive business analytics to help develop and execute strategy.

IASB and FASB publish revised proposal for revenue recognition

The International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB) today issued for public comment a revised draft standard to improve and converge the financial reporting requirements of International Financial Reporting Standards (IFRSs) and US General Accepted Accounting Principles (GAAP) for revenue (and some related costs) from contracts with customers.

FFMS of Russia will communicate with investors through its four new councils

The Federal Financial Markets Service has approved members of four new advisory councils which will provide recommendations for the FFMS. Russian financial market participants admit that today they have almost no link with the regulator.

Russia’s investors will be insured against default

The Russian Trade System stock exchange (RTS) is planning to launch a new instrument - credit default swaps (CDSs) – to allow investors to insure themselves against the default risk. Market participants see federal bonds among first pretenders for CDSs, also shares of large banks like Sberbank, Gazprom and VTB.

DPOC publishes working draft of protocol for due process oversight

The protocol is intended to guide the work of the DPOC as it discharges its responsibility for oversight of due process matters, to summarize the principal due process procedures of the IASB as described by the IASB’s Due Process Handbook.

Audit chief accuses Big Four of low-balling

Low-balling by the Big Four means smaller firms are losing out on audits they should be winning and makes investment unappealing, a senior mid-tier audit chief has claimed.

Global business barometer shows “stormy” weather

The number of pessimistic participants of the annual survey “Global business barometer” who think that the global economy will slide further into recession for the next six months is almost three times more than the number of “optimists”. Most fears come from debt problems in Europe.

ESMA publishes the outcome of a Review of European enforcers on the implementation of IFRS 8 “Operating Segments”

This Report provides the main findings of the review of European enforcers on the implementation of IFRS 8 “Operating Segments” and ESMA’s tentative recommendations to enhance the application of the standard.