Новости

President Medvedev approves the law on taxation of innovative activities

President of Russia Dmitry Medvedev today signed the federal law which introduced amendments to the Tax Code of Russia where it relates to taxation of innovative activities. The law was approved by the State Duma on 11 May 2011 and a bit later – by the Federation Council (which is the upper chamber of Russia’s parliament) on 25 May 2011.  The law is made to create more favorable conditions for innovative activity in Russia.

PCAOB to Consider Adopting Interim Inspection Program for Broker-Dealer Audits and Broker-Dealer Funding Rules

The Public Company Accounting Oversight Board has scheduled an open meeting for Tuesday, June 14, at 9:30 a.m., to consider adoption of certain rules to begin implementation of its expanded oversight responsibilities for audits of brokers and dealers under the Dodd-Frank Wall Street Reform and Consumer Protection Act.

SEC Issues Bulletin on Risks of Investing in Reverse Merger Companies

The Securities and Exchange Commission today issued an Investor Bulletin about investing in companies that enter U.S. markets through so-called “reverse mergers”.

IASB and ASBJ announce their achievements under the Tokyo Agreement and their plans for closer co-operation

The International Accounting Standards Board (IASB) and the Accounting Standards Board of Japan (ASBJ) have announced their achievements under their August 2007 Memorandum of Understanding (MoU), known as the Tokyo Agreement, to improve International Financial Reporting Standards (IFRSs) and Japanese generally accepted accounting principles (GAAP) and to bring about their convergence.

Central Bank of Russia questions effectiveness of Minfin

Yesterday the Central Bank’s deputy chairman Sergei Shvetsov quite unexpectedly criticized performance of the Ministry of Finance of the Russian Federation during his speech in the State Duma. He argued that the finance ministry (which is currently working under Alexei Kudrin’s chairmanship) was working ineffectively in respect to lawmaking, which is why those functions should be outsourced to private law companies.

Russian IPAR left ECCAA

The Institute of Professional Accountants of Russia made public announcement on its decision to exercise its right to leave the Eurasian Council of Certified Accountants and Auditors.

AOSSG publishes a Vision Paper “A Driving Wind for IFRS from Asia-Oceania”

Over recent years, the size of the economy and capital markets in the region has grown significantly, and convergence with or application of the International Financial Reporting Standards (IFRSs) have steadily progressed. With such surroundings, many stakeholders have suggested that national standards setters in the region have more roles to play.

Near Final Draft of amendments to IAS 1

The IASB has released a Near Final Draft (NFD) of amendments to IAS 1 “Presentation of Financial Statements” to change how components of other comprehensive income (OCI) are presented. The IASB has also released a Near Final Draft (NFD) of amendments to its standard on accounting for pensions and other postretirement benefits (OPEB).

More power will be given to minority shareholders in Russia

Minority shareholders in Russia will be given access to all of their company’s documents as well as subsidiaries which are shown today only to large shareholders – not only protocols of boards’ meetings, but also texts of all business acts approved by directors and texts of documents issued but regulatory bodies.

CB of Russia will make life harder for banks suspected in fraud

2008 was the year of cautiousness and uncertainty; 2009 – the year of depression. In 2010 the banking sector was even pleased by the regulator which was clearly seen on numerous forums where the Central Bank was “praised” for its “clever and far-seeing actions”.  Soon after that many started to think that the CB had started to make their lives harder. Many new regulations were adopted without proper consultation.