Новости

World Bank remains pessimistic on the future of the global economy

The World Bank has reviewed its expectations on the impact of the crisis on the global economy. This year, the economy will shrink by 2.9 (not by formerly expected 1.7) percent. Volumes of trade will decrease by 9.7% instead of 6.1%.

Audit Watchdog Finds IFRS Discrepancies

A new study of accounting-related fraud in Western Europe has found substantial differences in the approach taken to International Financial Reporting Standards by different countries and companies.

POB publishes Update of Key Facts and Trends in the Accountancy Profession

The Professional Oversight Board, an operating board of the Financial Reporting Council (FRC), today published a new edition of Key Facts and Trends in the Accountancy Profession.

U.S. and Switzerland agreed upon exchange of banking secrets

American and Swiss government authorities announced that they had reached a bilateral agreement on exchange of banking information which is needed to prevent tax evasion practices. The agreement is of key importance to Switzerland to be excluded from the “black list” of countries which do not disclose banking secrets on international level.

IASB clarifies the accounting for group cash-settled share-based payment transactions

The International Accounting Standards Board (IASB) today issued amendments to IFRS 2 “Share-based Payment” that clarify the accounting for group cash-settled share-based payment transactions.

ASB Requires New Disclosures for Heritage Assets

The Accounting Standards Board has today issued a new Financial Reporting Standard that will improve the reporting of assets held by museums and art galleries. FRS 30 “Heritage Assets” introduces significant new disclosure requirements for reporting the content and value of collections.

US banks gave back 68 billion USD

It is payback time for ten American banks: they returned $68 billion acquired as part of the Troubled Asset Relief Program (TARP) from the government and set themselves free. Once again, they are out of the government’s control. Bad news followed soon: Standard & Poor’s lowered ratings of 18 banks, which is a bad signal for European banking system as well.

CB putting smaller banks under extremely close supervision

Head office of the Bank of Russia has sent a letter to its regional branches, ordering them to control each and every significant change in business activity of banks which may possibly fail to pass minimal capital requirements in 2010.

Bank of Russia wants to simplify the process of bad debt write-offs

The Central Bank of the Russian Federation is thinking of simplification of the process of bad debt write-offs to free it from burdensome litigation, if it seems rational. Experts think that in conditions like that, when the amount of debts overdue is constantly rising, this measure might help banks to decrease their expenses and fix their balance sheets.

Two ways to subscribe to FASB’s new Codification

The US Financial Accounting Standards Board has announced that subscriptions to its new standards Codification, which takes effect 1 July 2009, are available in two ways.