Новости

APB publishes a revision of its Practice Note on UK Anti-Money Laundering Legislation

The Auditing Practices Board (APB) today issued an update to Practice Note 12 (Revised), “Money Laundering – Guidance for auditors in the United Kingdom” and a feedback paper on its recent consultation process.

S&P knows the secret

The international rating agency Standard & Poor’s (S&P) has developed a “magic” way to push Russian banks towards consolidation and cut their numbers in more than twice. The solution here is to force them to follow the H6 normative standard (on maximum amount of risk per one borrower or a group of affiliated borrowers), and not in the way they do now, but more strictly.

Russian tax authorities want to make simplified taxation system obligatory for smaller companies

The Federal Tax Service of Russia proposed obligatory implementation of simplified taxation by smaller entities with annual turnover below 60 million rubles.

IASB hedge accounting proposals due in November

The board expects to release its hedge accounting proposals in November, almost nine months late, but just in time to make the June 2011 convergence deadline with US accounting rules, according to sources within the body.

Audit inspection report on smaller firms published

The Professional Oversight Board, part of the Financial Reporting Council, has today published a report on the findings of the Audit Inspection Unit’s (AIU) inspections for 2009/10 of Smaller Firms.

Practical IFRSs conference held in Russia

It was quite obvious that Russian accounting society was particularly interested in the event, taking into account most recent changes in Russia’s accounting legislation. By those we mean discussion and fast approval of the law “On consolidated financial accountancy”, which it to be prepared under international standards by all public companies.

Recession in the USA “officially over”

Recession in the USA lasted 18 months. It turned out to be the longest since 1930-es, but now it is officially over as this was announced by the National Bureau of Economic Research. It was in fact possible to make the same announcement one year ago, but statisticians were afraid of private citizens’ anger.

Minfin plans to close “tax heaven” in Cyprus

Introduction of amendments to the double taxation treaty between Russia and Cyprus will make possible to close the “tax heaven” there as those amendments provide mutual assistance of two countries with tax collection.

SEC proposes measures to enhance short-term borrowing disclosure to investors

The Securities and Exchange Commission today voted unanimously to propose measures that would require public companies to disclose additional information to investors about their short-term borrowing arrangements.

The AASB has issued ED 205

The AASB has issued ED 205 “Extending Relief from Consolidation, the Equity Method and Proportionate Consolidation”.