Новости

A new meeting is scheduled in Kuala Lumpur to discuss application of IFRS 9 in Islamic counties

The Consultative Group for Shariah-Compliant Instruments and Transactions which works under auspices of the IASB will meet next time in Kuala Lumpur (Malaysia) to discuss the recent standard IFRS 9 “Financial instruments”.

BofA is going to pay a multibillion fine

One of the largest American banks – the Bank of America Corp. (BofA) – has agreed to pay a record breaking fine to the Department of Justice as well as the Securities and Exchange Commission and municipal governments of six states.

FRC presents pensions-related amendments to FRS 102

The Financial Reporting Council of Great Britain (FRC) recently published draft amendments to its general standard FRS 102 “The Financial Reporting Standard Applicable in the UK and Republic of Ireland”. The proposed amendments are related to accounting for pension liabilities.

GASB completes the PIR for Statement No. 42

The Governmental Accounting Standards Board (GASB) recently completed a post-implementation review of its standard on the subject of capital assets impairment and accounting for insurance recoveries.

PCAOB consults on audit of accounting estimates and fair value measurements

The Public Company Accounting Oversight Board published for public discussion a new staff consultation paper on the subject of audit of accounting estimates and fair value measurements. The Board has plans to adopt amendments to the existing standards or even to develop a new one.

CB of Russia worried about SWIFT

The Central Bank of Russia is now worried about possible consequences of economic sanctions, this time in relation to the international system of communications SWIFT (the Society for Worldwide Interbank Financial Telecommunications). It is now thinking of creation of a Russian analogue.

Ruble may be excluded from the international financial turnover

The European Parliament’s deputy speaker Richard Charnetsky proposed that Europe should adopt new sanctions against Russia, this time excluding ruble from the international financial turnover.

Eight arguments against the sales tax

We remind that the Russia’s government has plans to adopt the controversial sales tax which in its modern history (since the Soviet Union’s collapse) was in place twice, although was eventually abandoned. There are already speculations (not officially confirmed, though) that lawmakers may eventually abandon the idea at all. Meanwhile, Russian business is expressing its views on that.

PCAOB urges to improve audit of brokers and dealers

This Monday the Public Company Accounting Oversight Board (PCAOB) published a report, urging audit companies to improve audit services they provide to brokers and dealers by paying special attention to issues of auditor independence.

FASB completes PIR for share-based payments

US GAAP rules for share based payments - the Statement No. 123(R), originally issued in 2004 – successfully passed the recent FASB post-implementation review and were recognized as providing investors with useful information to the required extent.