Новости

IASB proposes to exempt investment entities from consolidation requirements

The International Accounting Standards Board (IASB) published today proposals to define investment entities as a separate type of entity that would be exempt from the accounting requirements in IFRS 10 “Consolidated Financial Statements”.

Moody’s downgrades ratings for Japan

This Wednesday Moody’s downgraded sovereign ratings for Japan from Aa2 to Aa3, outlook “stable”. The agency explained that the decision was related to the country’s big budget deficit and significant growth rate of the debt since the recession of 2009.

Russian government approves redistribution of authority powers between the finance ministry and the FFMS

During the session this Tuesday Russia’s government approved a draft order on redistribution of authorities between the Ministry of Finance and the Federal Financial Markets Service in respect to regulation of financial markets.

Japan delays accounting changes – reports

The implementation of new accounting rules that would have hit company profits by obliging them to book pension fund shortfalls as liabilities on their balance sheets is to be postponed, according to reports.

Broker issues Tobin tax threat

London-based broking giant Icap will quit the European Union if a Tobin tax on financial transactions is introduced, its chief executive has said.

USA approves merger of NYSE and Deutsche Boerse

The Committee on Foreign Investment in the United States (CFIUS) today officially approved the merger between NYSE and Deutsche Boerse, informs Financial Times. If not a “breakthrough”, it is a big victory anyway as there were serious doubts that American regulators would agree. Many of them see national stock exchanges as strategic assets which should not be traded to foreign entities.

Rating agencies overinflate ratings for a reward

International rating agencies receive money from banks and companies they should normally evaluate objectively and independently – a blow against the “Big Three” was thrown by former president of Moody’s Investors Service William Harrington.

Deven Sharma leaves S&P

President of Standard & Poors Deven Sharma announced his intention to resign several weeks after the agency’s decision in respect of American ratings. It is expected that Sharma will be replaced by Douglas Peterson, currently COO in Citibank.

AICPA Recommends Allowing U.S. Public Companies to Choose IFRS

The AICPA has recommended to the SEC that U.S. public companies be allowed the option of adopting use of IFRS as the commission weighs a possible future framework for incorporating IFRS into the U.S. financial reporting system.

ICAEW criticises SEC phased IFRS plans; Calls for simultaneous transition in US

ICAEW is challenging proposals from the Securities and Exchange Commission (SEC) to adopt a staged approach to incorporating International Financial Reporting Standards (IFRS) into US GAAP, and is calling instead for a simultaneous transition.