Новости

Searching for a replacement for BRIC

An American investment company Probitas Partners has issued a report in which it informes on the new group of developing economies to possibly become popular among investors - that’s MIST – Mexico, Indonesia, South Korea and Turkey.

Ukraine switching to IFRSs in 2012

The question of transition of Ukrainian business entities to international financial reporting standards has recently become very relevant. On May 12, 2011 the Verkhovna Rada approved amendments to the law “On financial accountancy and financial reporting in Ukraine” which provide application of IFRSs starting from 2012.

Russia is the European “leader” in corruption

Russia is the leader (more like “anti-leader”) of the European corruption list, according to Ernst & Young: the country’s entrepreneurs and government officials are more likely to give and to receive bribes. Russia is also on the first place in manipulations with financial accountancy. Despite all efforts, the government’s anti-corruption campaign isn’t working.

Basel Accord’s Pillar 2 – is there a level playing field for European banks?

Despite the EU’s ongoing efforts to establish more uniform financial regulation across Europe, a report published by KPMG finds there is still significant divergence among European regulators in their approaches to implementing the Pillar 2 guidance on capital adequacy.

Accounting for derivatives is not that complex

The initiation of International Financial Reporting Standards (IFRS), or its “Indianized” version known as IND-AS, is set to herald a sea change in the accounting for derivatives. Exploring the prospect of improving on my concepts, I happened to attend a recent seminar on IFRS with a good three hours thrown in for accounting for financial instruments.

Banks in Russia won’t have to pay taxes on unpaid interest on credit contracts

Deputies of the State Duma of Russia decided to optimize taxation of interest revenues and fees on credit contracts. The corresponding amendments to the Tax Code have been introduced to the State Duma and are ready for discussion.

Ukraine’s finance ministry presented a new draft law on simplified taxation regimes

The Ministry of Finance of Ukraine has presented its draft law on amendments to the Tax Code and other regulations where they deal with simplified taxation regimes and simplified accounting for small businesses.

IAASB Seeks Global Views on Enhancing the Value of Auditor Reporting

The International Auditing and Assurance Standards Board (IAASB) today released its consultation paper, Enhancing the Value of Auditor Reporting: Exploring Options for Change, to obtain views on enhancing the quality, relevance and value of auditor reporting on an international basis.

OFT announces next steps in audit market

The OFT has provisionally decided that there are competition problems in the audit market that pass the statutory test for referral to the Competition Commission. However, it is now to discuss with interested bodies whether, in practice, potential remedies exist that could allow the Commission to resolve these problems.

NASDAQ and ICA gave up on acquisition plans

NASDAQ OMX Group and the Intercontinental Exchange (ICE) informed today on cancellation of their joint proposal on acquisition of NYSE Euronext which they made in April.