Новости

CB supports the idea to transfer assets of already liquidated banks to other organizations

The Bank of Russia supports the idea of the Ministry for Economic Development to transfer assets from banks which lost their licenses to other credit institutions so that they can settle accounts with deposit holders.

Tweedie Takes a Bow

The only person to ever hold the chairman’s seat at the IASB is four months from retirement. He talks candidly about IFRS, professional judgment, accounting education, and his successor.

Accounting change prompts rethink of US leverage ratios

A recent proposal to converge global accounting standards could add trillions of dollars of derivatives exposures to US bank balance sheets, potentially upsetting the leverage ratios used by bank regulators.

Russia’s finance ministry getting ready for translation of IPSASs into Russian

The Ministry of Finance of the Russian Federation informed on its preparations for translation of international public sector accounting standards (v. 2010) into Russian and their official publication.

Most expensive bank brands in Russia – Brand Finance

Russian banks managed to stay in the list of 500 most expensive brands, the annual rating of banks drawn by Brand Finance. What was changed is composition of banks. Also, total value of Russian brands went down a bit. Bank of America is the new global leader.

EFRAG and the UK ASB issue a discussion paper: “Considering the effects of accounting standards”

The European Financial Reporting Advisory Group (EFRAG) and the Accounting Standards Board (UK ASB) of the FRC have published today a Discussion Paper “Considering the Effects of Accounting Standards”. The Discussion Paper results from a project developed by EFRAG and the UK ASB jointly, as part of EFRAG’s proactive agenda.

The Financial Reporting Review Panel highlights challenges in the reporting of principal risks and uncertainties

The Companies Act 2006 requires directors’ reports to contain a business review which must itself contain a description of the principal risks and uncertainties facing the company. The Act states that the purpose of the business review is to inform members of the company and help them assess how the directors have performed their statutory duty to promote the success of the company.

IASB and FASB propose common solution for impairment accounting

The International Accounting Standards Board (IASB) and the US-based Financial Accounting Standards Board (FASB) have today published for public comment proposals for accounting for impairment of financial assets such as loans managed in an open portfolio.

Banks in Russia will disclose more information

Starting from the beginning of January new Central Bank’s regulations of financial accountancy in banks are in force. Among other things, banks now have to disclose structure of their credit portfolios. In monthly accounting forms to be presented to the Central Bank there are now additional sections for information on consumer credits, mortgages and auto credits to be presented separately.

Russia creating a “megaregulator” for its markets

Russian government officials agreed upon a different scheme of financial markets regulation: the Federal Insurance Supervision Service will be merged with the Federal Financial Markets Service and the joint structure will be left in the government’s control.