Новости

Rouble is not added to the CLS system yet

Governance of the international settlement system refuses to include rouble yet, referring to a number of operational, legal and international factors.

Not a sales tax, but various social duties - Medvedev

At the investment forum in Sochi Russia’s prime-minister Dmitry Medvedev said that regions of Russia would be able to adopt social duties instead of the sales tax.

European Commission will hold an anti-monopoly investigation

Head of the European Commission’s competition department Joaquin Almunia plans to commence a massive onslaught on monopolies. He wants to have it done before stepping down (to be replaced by Margrethe Vestager on this post).

India promises to finish convergence by the end of November

The National Advisory Committee on Accounting Standards (NACAS), recently reconstituted by the Corporate Affairs Ministry, is racing against time, promising to align national standards with IFRSs by the end of November. For Committee, it is more than just “top” – it is “immediate” priority, says the NACAS chairman Amarjit Chopra.

Editorial corrections to IFRS 2014

Last Friday the IASB editorial team published corrections to standalone standards, consequential amendments, and bound volumes: “A Guide through IFRS 2013” (“Green Book”), 2014 IFRS (“Blue Book”) and 2014 IFRS (“Red Book”).

GAAP-IFRS.COM Digest: 15-19 September

Financial Stability Board presents its report on factors influencing long-term investments

The Financial Stability Board (FSB) presented its recent report to financial ministers and governors of central banks of G20 counties concerning influence of factors on long-term investments. The Board has been monitoring the subject for a long time, also holding outreach events, exchanging opinion with its members, participants of the private sector, and international organizations like the World Bank and the OECD.

Russia is not planning to restrict movement of capital yet

Taking into account the fact that rouble continues to depreciate, it is possible that Russia may get back to the practice it has already started to forget. Since 2005 there have been no restrictions on free capital movement in Russia. However, this week one of the experts (Vladimir Tikhomirov, chief economist of the BCS financial group) presumed that the Central Bank could adopt emergency actions in response to the nation currency depreciating so rapidly.

Ulyukaev calls Russia’s possible disconnection from SWIFT “a madness”

In his speech at the investment forum in Sochi head of the Ministry for Economic Development of Russia Alexei Ulyukaev called the possibility of Russia’s disconnection from SWIFT “a madness” – and even “a military action”. He hopes that European lawmakers won’t take this step, although if they do, Russia has to be ready for that.

IPSASB approved four final chapters to its “Conceptual Framework”

This week the International Public Sector Accounting Standards Board (IPSASB) approved a very important document – “The Conceptual Framework for General Purpose Financial Reporting by Public Sector Entities”.