Новости

Large businesses in Russia ready to trade insider information with tax authorities

An unprecedented deal is proposed by lawyers of a number of large Russian corporations: the Federal Tax Service (FTS) is being offered a regular and voluntary provision of additional insider information in exchange for the services’ regular warnings of forthcoming inspections and potentially dangerous counteragents which may cause troubles during checks. The Federal Tax Service is ready to hear them out, but experts really doubt they will ever go for it: too much freedom for companies.

Treasury mulls changing definition of “small business”

The Treasury Department’s Office of Tax Analysis has released a paper that considers changing the way to identify small businesses and their owners, along with their tax characteristics.

FASB approves standard to simplify testing goodwill for impairment

The Financial Accounting Standards Board (FASB) today approved a revised accounting standard intended to simplify how an entity tests goodwill for impairment.

Interbrand published its rating of the world’s most “green” brands

The Interbrand agency has published it rating of the most “green” brands, which means companies doing most to preserve environment. It is based on results of the survey of 10 thousand respondents in 10 economically developed countries.

Geithner criticized S&P’s decision; refused to leave prematurely

United States secretary of the Treasury Timothy Geithner attacked Standard & Poor’s for its recent decision to downgrade the rating for American sovereign bonds. President Obama showed support to his minister, also approving his decision not to resign prematurely when times are hard.

SEC Updates Edgar Filer Manual

The Securities and Exchange Commission has released an updated manual for companies filing financial reports in the SEC’s Edgar online system.

Changing Roles and Employer Expectations Define Areas of Competency for Professional Accountants in Business

The Professional Accountants in Business (PAIB) Committee of the International Federation of Accountants (IFAC) today published “Competent and Versatile: How Professional Accountants in Business Drive Sustainable Organizational Success”, which supports the global accountancy profession in responding to changing expectations of society, financial markets, and organizations, and promotes the value of professional accountants in business to their organizations.

AIG sues Bank of America for $10 billion

American financial corporation AIG has filed a suit agaist one of the largest banks in the world – Bank of America (BofA) - asking for a 10-billion compensation. AIG claims that it suffered those losses because of mortgage securities it purchased from BofA. It says that in 2005-2007, when the mortgage market was at its peak, the Bank of America and two financial corporations which later became part of it (Countrywide and Merrill Lynch) sold AIG mortgage securities for 28 billion dollars.

Russian civil servants will work under quality control standards

The Federal Antimonopoly Service of the Russian Federation is working to adopt a new system of quality control for government services. The body is holding a tender to study quality of government services and ways to be improved.

Russian auto insurers hide the way they divide risks among categories

Attempts of the Russian union of auto insurers (RUA) to divide participants of the OMI (“obligatory motor insurance”) market into 5 risk categories yielded harsh critics. Experts say that the union’s methodology does not allow adequate estimation of the level of reliability of insurance companies while risk coefficients are sometimes calculated subjectively.