Новости

Consumers in Russia will be protected against insurance companies’ services

A new draft law will be presented soon, according to which services of insurance companies will fall under consumer protection. The Federal Service on Surveillance for Consumer rights protection and human well-being (aka “Rospotrebnadzor”) thinks that the law requires clearer definition for “financial services”.

Business unaware of IAS 17 changes

Most international businesses are unaware of one of the most important global accounting changes in the past decade – moving all but short-term leases onto the balance sheet.

Audit committee chairs question Brussels’ reforms

Audit reform proposals enjoy mixed support among audit committee chairs, as many question the rationale behind the measures and argue UK audit is the best in Europe.

In 2012 even more companies in Russia will be obliged to report electronically

Next year even more companies in Russia will be required to present electronic accountancy – the corresponding plans are now being discussed by the Federal Tax Service, the Ministry of Finance and the Pension Fund.

Recent announcement of Greece shocks European politicians and investors

Yesterday’s announcement by the prime-minister Georgios Papandreou made many investors and creditors worry because what he said is that Greece would hold a public referendum on receiving external support to be saved from default.

Russia is the first one in corruption

The international organization against corruption - Transparency International – yesterday published its annual report on corruption (bribery) of export companies abroad – the Bribe Payers Index. This year Russia is the leader (or rather anti-leader) here.

Expectations for capital outflow from Russia doubled

Sad news for Russia: this year up to 70 billion of private capital will leave its borders. That’s the new official forecast of the Central Bank, and it is twice more than it was forecasted before. Foreign exchange reserves will stop growing despite stable and high prices for oil. That’s a bad signal of the “second wave” of crisis, experts say.

Canadian regulator decides against allowing early adoption of recent IFRSs by certain entities

The Canadian Office of the Superintendent of Financial Institutions (OSFI), an independent agency of the Government of Canada that supervises and regulates Canadian banks, insurers, and federally registered private pension plans, has issued a letter in which it concludes entities which it regulates should not early adopt many standards recently issued by the IASB.

IPSASB Approves IPSAS 32 “Service Concession Arrangements: Grantor” and Annual Improvements Standards

The International Public Sector Accounting Standards Board (IPSASB)has approved a landmark new standard, IPSAS 32 “Service Concession Arrangements: Grantor” (IPSAS 32). Service concession arrangements provide a way for governments and other public sector entities to build the infrastructure necessary to maintain and improve critical public services.

PCAOB Enters Into Cooperative Agreement for the Exchange of Confidential Information with the Israel Securities Authority

The Public Company Accounting Oversight Board announced today that it has entered into a cooperative agreement for the exchange of confidential information with the Israel Securities Authority (ISA) to enhance the supervisory oversight of auditors and accounting firms that practice in the two regulators’ respective jurisdictions.