Новости

Putin improving legislation on foreign investments

Russia’s Prime Minister Vladimir Putin instructed the Federal Antimonopoly Service (FAS) to come up with improvements to the current legislation on foreign investments promptly.

KPMG in Hong Kong corruption case

A senior manager in KPMG’s Hong Kong office has been charged with bribery in connection with a controversial initial public offering that is the subject of an investigation by the territory’s securities regulator.

Amendments on transfer pricing may be introduced already in 2011 in Russia

One of the major changes here will be consolidation for payment of the profit tax.

CB of Russia most transparent

It appears that the Bank of Russia is the leader of information disclosure among 21 national banks that manage reserves above $70 billion.

IFAC’s Education Standards Board Adopts New Strategy

The International Accounting Education Standards Board (IAESB) has issued its Strategy and Work Plan for 2010-2012, which focuses on enhancing the International Education Standards (IESs) and providing guidance for IES adoption and implementation.

IASB staff paper on liabilities project

The IASB staff have prepared a staff paper discussing one aspect of the working draft IFRS that would replace IAS 37 “Provisions, Contingent Liabilities and Contingent Assets”.

CB of Russia wants to fight with “window dressing”

Here we refer to “window dressing” as the deceptive practice of making one’s accounting records look better than they are. The Central Bank of the Russian Federation proposed to create a separate section on the official website of the Federal Tax Service (FTS) to contain quarterly financial accounts of legal entities.

FFMS clears markets from “fly-by-night” companies

The Federal Financial Markets Services toughens licensing requirements for professional market participants. Those should come in effect in July – informed the body’s chairman Vladimir Milovidov.

Putin promised not to suspend any of the anti-crisis programs yet

Anti-crisis programs in Russia won’t be suspended unless there is positive dynamics in each and every segment of the country’s economy – promised Russian Prime Minister Vladimir Putin.

PCAOB issues staff audit practice alert on auditor considerations of significant unusual transactions

The Public Company Accounting Oversight Board today issued a Staff Audit Practice Alert to remind auditors of public companies about their responsibilities to assess and respond to the risk of material misstatement of the financial statements due to error or fraud posed by significant unusual transactions.