Новости

APB issues revised guidance on the Audit of Occupational Pension Schemes

The Auditing Practices Board (APB) of the FRC has today published a revision of Practice Note (PN) 15: “The Audit of Occupational Pension Schemes in the United Kingdom (Revised)”. An exposure draft of the revised PN was issued in July 2010 for public comment.

Revised accounting standards’ impact on earn-out arrangements

Oftentimes, business acquisitions include both an up-front payment and contingent payments, or "earn-outs," based on the achievement of future performance objectives.

IASB and FASB propose to align balance sheet netting requirements

The International Accounting Standards Board (IASB) and the US-based Financial Accounting Standards Board (FASB) have published a proposal to establish a common approach to offsetting financial assets and financial liabilities on the statement of financial position (balance sheet).

The law on insider information and market manipulation now effective in Russia

The federal law on insider information abuse and market manipulations which was signed by president Medvedev on 27 July 2010, is effective in Russia starting from today. The law provides definition of insider information, defines persons which may be seen as “insiders” and contains the order to disclose insider information.

Russia’s Duma amends the law on money laundering

Yesterday the State Duma of Russia approved a set of amendments to the federal law on suppression of money laundering and terrorist financing and to the second part of the Civil Code of Russia. The document was developed in response to recommendations of the Financial Action Task Force on Money Laundering — FATF.

Kazakhstan considers adoption of “IFRSs for SMEs”

The Ministry of Finance of the Republic of Kazakhstan held a joint workshop with the World Bank on possible application of international financial reporting standards for small and medium entities.

FASB Reverses Course on Fair Value

The Financial Accounting Standards Board has taken a step back on previous plans to require companies to report all of their financial instruments at fair value.

Blue-Ribbon Panel Addressing Standards for Private Companies Submits Report of Recommendations to Financial Accounting Foundation

The blue-ribbon panel addressing how U.S. accounting standards can best meet the needs of users of private company financial statements has issued a report of its recommendations to the Financial Accounting Foundation (FAF) Board of Trustees. The report calls for fundamental changes to the system of standard setting, including the creation of a new board, to be overseen by the FAF, that would focus on making exceptions and modifications to U.S. GAAP for private companies that better respond to the needs of the private company sector.

Tax burden lifted for innovative companies

The State Duma of Russia has approved a new law project aimed at more favorable tax conditions for innovative companies. For example, there will be tax preferences for items with high energy efficiency.

FFMS of Russia developing a formal approach to work with insider information

On January 27 the new law on insider information abuse will come into force. Officials are insiders as well, which is why they have to follow the law just like others.