Новости

Chairman Schapiro Statement on FASB-IASB Decision to Modify Timing of Certain Convergence Projects

In February, the Securities and Exchange Commission laid out its position regarding global accounting standards, making it clear that the Commission continues to believe that a single set of high-quality globally accepted accounting standards would benefit U.S. investors.

G20 leaders disagreed upon the new tax proposals

In the course of the last summit in South Korean Busan G20 finance leaders rejected the idea of the new tax on banks to support them if there is another crisis while bad news comes from Hungary, causing negative reaction of global investors.

Russia’s government prepares easier mergers for banks

Government of Russia is increasing thresholds for bank assets with which they will have to apply to the Federal Antimonopoly Service for a permission to merge. The Bank of Russia predicts there will be 5 or 6 more M&A transactions between banking entities this year.

“IFRSs for SMEs” – are they good or bad?

Yesterday the Institute of Financial Accountants and the Russian Collegium of Auditors (RCA, a member of IFAC, btw.) held a conference “Professional financial management and control in small and medium business: tendencies and practice of international development”.

CIMA warns on corporate excesses that undermine long-term success

CIMA (Chartered Institute of Management Accountants) has today issued a warning to corporates around the world that they must pay heed to their impact on society and take a close look at their remuneration schemes to ensure they are appropriately reported to outside stakeholders. Launched today, “Executive remuneration schemes and their alignment with business sustainability” (see www.cimaglobal.com/executivepay), outlines how organisations should set up stable executive remuneration schemes that tap in to long-term strategy.

IVSC publisher exposure draft for new “International Valuation Standards”

These cover valuations for most types of asset, including for the first time a proposed standard for financial instruments. The standards also reflect current developments in the International Financial Reporting Standards, which increasingly require assets and liabilities to be valued.

IASB and FASB issue statement on their convergence work

The IASB and the FASB today announced their intention to prioritize the major convergence projects to permit a sharper focus on issues and projects that they believe will bring about significant improvement and convergence between IFRSs and US GAAP.

Small companies in Ukraine freed from paying taxes for 5 years

This was announced by the chairman of the State Committee of Ukraine for Regulatory Policy and Entrepreneurship Mikhail Brodsky during the conference in Kiev.

IASB considers delaying convergence timetable

The International Accounting Standards Board (IASB) plans to converge its accounting code with its US counterpart, the Financial Accounting Standards Board (FASB), by a June 2011 deadline laid down by the G20.

SEC Is Boosting Scrutiny of Offshore Accounting, Fagel Says

Securities and Exchange Commission investigators are increasing scrutiny of U.S. companies’ offshore operations amid concern that accounting controls may be too weak, the head of the agency’s San Francisco office said.