Новости

Accounting changes could make radical difference for insurers

Proposed changes in U.S. accounting standards aimed at bringing them in line with those used by European firms would “radically transform” the accounting methodology used by property and casualty and life insurers, according to an investment banking firm.

All banks will be obliged to disclose information on bonuses

The Basel Committee on Banking Supervision announced its intentions to oblige all banks in the world to disclose the amount of bonuses paid to their managers.

EU has officially overcome recession - Herman Van Rompuy

The European Union is out of recession and that’s official: for that speaks positive dynamics of economic growth in the community for the last 11 months, says the European Council’s president Herman Van Rompuy. He also says there is low level of inflation while trade budget is in balance.

Accounting in Azerbaijan to be conducted in electron form

Ministry of Taxes is expected to apply electron form of accounting. According to Azerbaijan Republic Ministry of Taxes Tax Policy and Strategic Researches Department Chief Vusal Shikhaliyev, the offers on this program have already been made.

GAO Sees Problems in Government’s Financial Management

The U.S. Government Accountability Office said it could not render an opinion on the 2010 consolidated financial statements of the federal government, because of widespread material internal control weaknesses, significant uncertainties, and other limitations.

IFRS for Investment Funds

Deloitte’s Global Financial Services Industry (GFSI) network has released two publications on IFRSs for Investment Funds.

Deutsche Bank named “Bank of the Year”

According to a very famous financial edition International Financing Review (IFR), the title “Bank of the Year” goes to German Deutsche Bank. Despite high volatility, sovereign debt crisis in Europe and unstable expectations of investors, the bank still managed to outperform its competitors.

Minfin proposed to cancel all tax preferences

The Ministry of Finance of the Russian Federation claims that in order to meet social and defense obligations the government needs to abandon most of existing tax preferences.

Russia plans to create a singe body for financial supervision

It is possible that all financial organizations in Russia (joint-stock companies, investment companies, insurance companies, stock exchanges, credit unions, etc.) will be supervised by one and only authority – the Federal Financial Service (FFS).

Monitoring Board Working Group Meets to Discuss Governance Review

The Monitoring Board Working Group (Working Group) on Governance Review met on 6 December 2010 in Tokyo to continue its discussion of the review of the governance framework around the Monitoring Board and the IFRS Foundation as mandated by the Monitoring Board. The Working Group is issuing this release to provide clarity about the coordination between its own governance review and the strategy review undertaken in parallel by the Trustees of the IFRS Foundation.