Новости

Audit Inspection Unit publishes report on firms auditing ten or fewer entities within AIU scope

The Professional Oversight Board, part of the Financial Reporting Council, has today published a report on the findings of the Audit Inspection Unit’s (AIU) inspections for 2010/11 at firms auditing ten or fewer entities within AIU scope.

Participation of foreign investors in capital of Russian SMEs will be made easier

A law project was prepared by the Bank for Development of Russia (aka “Vnesheconombank”). The law lifts restrictions on participation of development institutes in capital of small and medium entities (SMEs).

Bank secrecy disclosed in Russia

Still acting president of Russia Dmitry Medvedev proposed to disclose information on transactions of legal entities and certain categories of private individuals to broader categories of interested parties.

Russia and Switzerland officially approved amendments to the double taxation treaty

As it was promised last week, Russia and Switzerland signed a protocol of amendments to the double taxation treaty- including those that deal with disclosure of certain information of Russian citizens’ accounts in Swiss banks. The documents was signed in Washington by Russia’s finance minister Alexei Kudrin and head of the Federal Department of Finance Eveline Widmer-Schlumpf.

IFAC Begins Search for Next Chief Executive Officer

The International Federation of Accountants (IFAC), the global organization for the accountancy profession with members and associates in 125 countries is seeking an outstanding individual to become its next chief executive officer (CEO), based in New York City. The candidate will succeed current CEO Ian Ball, whose contract is set to expire in February 2013 and who is not seeking a further term.

Judgment in accounting for joint arrangements

The International Accounting Standards Board (IASB) recently issued a new standard -- IFRS (International Financial Reporting Standards) 11 Joint Arrangements -- which takes effect for annual periods starting Jan. 1, 2013.

FASB Issues Accounting Standards Update to Improve Employer Disclosures for Multiemployer Pension Plans

The Financial Accounting Standards Board (FASB) today issued Accounting Standards Update No. 2011-09, Compensation—Retirement Benefits—Multiemployer Plans (Subtopic 715-80): Disclosures about an Employer’s Participation in a Multiemployer Plan.

New Guidelines to build transparency in construction and real estate sector

Carbon emissions, management and remediation of contaminated land, and sub-contracted labor issues are some of the sustainability issues that can now be reported by construction and real estate companies, thanks to new guidance published today (22 September 2011) by the Global Reporting Initiative (GRI).

ACCA calls for immediate IFRS adoption in the US

According to the accountancy body, US issuers should immediately be given the option to prepare financial statements using IFRS as issued by the International Accounting Standards Board, in line with foreign issuers.

FASB’s Convergence Timeline Moves to Next Year

Financial Accounting Standards Board chair Leslie Seidman said that many of the priority projects slated for convergence with the International Accounting Standards Board probably will not be settled until next year at the earliest.