Новости

ICAEW wants to explore joint-audit option

One of the UK’s leading accounting institutes has offered tentative support for mandatory joint audits, a model which can increase the likelihood of fraud, according to senior auditors.

IAESB Proposes Clarified Standard on Continuing Professional Development

The International Accounting Education Standards Board (IAESB) today released for public exposure a proposed revision of International Education Standard (IES) 7 “Continuing Professional Development: A Program of Lifelong Learning and Continuing Development of Professional Competence”.

Europe tightening legislation against financial crime

This Wednesday European Commissioner Michel Barnier informed that serious differences in member states’ legislation in respect to financial crimes were a real treat to financial stability of the whole sector. Thus, he called for unification of regulatory framework and its tightening.

FASB Issues Proposed Accounting Standards Update - Receivables (Topic 310)

The amendments in this proposed Update would apply to all public-entity creditors that modify financing receivables within the scope of the disclosure requirements about troubled debt restructurings in Update 2010-20. The amendments in this proposed Update would not affect nonpublic entities.

IASB proposes improvements to hedge accounting

The International Accounting Standards Board (IASB) today published for public comment an exposure draft on the accounting for hedging activities. The exposure draft proposes requirements that will enable companies to reflect their risk management activities better in their financial statements, and, in turn, help investors to understand the effect of those activities on future cash flows.

FRC calls for Audit Quality across Europe

The FRC’s response outlines measures to promote high quality audits across the EU and proposes ways of reducing the systemic risk associated with the level of audit market concentration. The FRC also believes that improved engagement between audit committees and investors would play a key role in enhancing audit quality.

FFMS of Russia defined ways to estimate value of financial securities for taxation purposes

If a financial security is listed, there’s no problem: fair value suits just fine (as long as markets are active, of course). But what if it is not traded? Last week Russia’s Ministry of Justice officially registered the order by the Federal Financial Market Service (FFMS) to be used to evaluate prices of non-tradable financial securities for income taxation purposes.

Obama settles for longer tax preferences

America’s president Barak Obama had to agree with republicans and to prolong tax cuts for rich people for two more years. The news cheered up financial markets which demonstrated growth.

IASB publishes IFRS Practice Statement on Management Commentary

The International Accounting Standards Board (IASB) has today published an International Financial Reporting Standard (IFRS) Practice Statement “Management Commentary”, a broad, non-binding framework for the presentation of narrative reporting to accompany financial statements prepared in accordance with IFRSs.

Experts slam avoidance rule

The government’s direction on tax avoidance has provoked a harsh reaction as tax advisers turned on the proposal for a general anti avoidance rule (GAAR) saying it would hurt small business. The proposals came from exchequer secretary David Gauke in a statement to Parliament.