Новости

More than 100 small banks in Russia risk losing their licenses due to new capital requirements

On the eve of new capital requirements coming into effect smaller Russian banks are actively building their capital.

FFMS of Russia adopts internal control for insurers

The Federal Financial Markets Service of Russia, which inherited regulatory functions from the Federal Insurance Supervision Service (aka “Rostrakhnadzor”), wants insurance companies to adopt internal control services. The All-Russia union of insurers holds nothing against those initiatives.

USA: probability of recession 33%

Leading American economists believe that probability of another recession in the USA has increased recently. Europe isn’t doing much better, though. Despite that, there are optimists who believe that there won’t be any new economic downturns.

Accountants split on next IASB project

Worldwide accountancy regulators are split on which accountancy projects the International Accounting Standards Board should tackle next.

FASB Issues Accounting Standards Update to Simplify Testing Goodwill for Impairment

The Financial Accounting Standards Board (FASB) today issued Accounting Standards Update No. 2011-08 “Intangibles—Goodwill and Other (Topic 350): Testing Goodwill for Impairment”. The Update simplifies how an entity tests goodwill for impairment.

EFRAG invites companies to participate in the field-testing of new standards

The European Financial Reporting Advisory Group (EFRAG) will conduct field-testing of the new requirements on joint arrangements (IFRS 11 “Joint Arrangements” and IFRS 12 “Disclosure of Interests in Other Entities”) and the new requirements on consolidation (IFRS 10 “Consolidated Financial Statements” and IFRS 12 “Disclosure of Interests in Other Entities”), all published by the IASB in May 2011.

PCAOB Enters into Cooperative Agreement with Norway

The Public Company Accounting Oversight Board today announced a cooperative agreement with the Financial Supervisory Authority of Norway for the oversight of audit work performed by public accounting firms that practice in the two regulators' respective jurisdictions.

MICEX and RTS agreed upon a consolidation plan

Two main stock exchanges of Russia – MICEX and RTS – which are in the process of a merger, have agreed upon a plan to consolidate their trade grounds and indexes. From the plan it actually follows that many of their today’s pre-merger functions will be kept unchanged, and will even duplicate themselves. For instance, both of the indexes will still be, and the united stock exchange will have two sections of a derivatives market.

Accelerated amortization for leased property will be cancelled in Russia

The finance ministry of Russia proposes to abandon increased amortization coefficient for property in lease.

European Commission to present its vision of euro bonds soon

Head of the European Commission Jose Manuel Barroso promised to present an option for joint European bonds soon. However, in his opinion this won’t solve all of their problems, but will become a part of a more complex approach for further economic and political integration.