Новости

IASB publishes draft guidance on fair value measurement

To ensure consistency between IFRSs and US generally accepted accounting principles (GAAP), the proposals incorporate recent guidance on fair value measurement published by the US Financial Accounting Standards Board (FASB) and are consistent with a report of the IASB’s Expert Advisory Panel published in October 2008 on fair value measurement in illiquid markets.

FAS further simplifies foreign investors’ access to Russian “strategic industries”

The Federal Antimonopoly Service (FAS) proposed easier requirements for foreign investors to obtain control over natural resources of Russia by removing them from the list of controlled transactions.

New stimulus for smaller business

There are smaller companies in Russia on special taxation regimes, like the ones paying a uniform tax on imputed income. Yesterday the State Duma’s deputies acquired a new law project for consideration which may fee those companies from financial accountancy: the project contains necessary amendments to the law “On Financial Accountancy” and the Internal Revenue Code.

IFAC 2008 Annual Report Highlights Initiatives During Credit Crisis and Need for Convergence to Global Standards

The International Federation of Accountants (IFAC) released its 2008 annual report today, highlighting initiatives to help restore global financial stability and, in addition, describing how some of IFAC’s core work-developing international standards and guidance became even more relevant in the current economic environment.

“One ring to rule them all”

The crisis may create yet another “monster” of the financial regulation system in the USA. Leading investors, managers and accounting professors from the Committee on Capital Markets Regulation have proposed to create a Financial Services Authority to regulate them all: the banking industry, derivatives and financial securities markets.

Owners of banks are put under control

Yesterday the Central Bank of the Russian Federation published two exposure drafts of its new requirements on criteria for evaluation of financial position of legal entities and private individuals that either own or participate in a bank’s capital.

US body has doubts over matching accounting reform

Piecemeal reform of accounting rules to please politicians and help banks fails to represent progress or responsibility in financial reporting, a top U.S. industry official said on Friday.

SEC takes steps to strengthen existing rules governing securities trading by personnel

Securities and Exchange Commission Chairman Mary Schapiro outlined a series of measures the agency is taking to strengthen its internal compliance program to guard against inappropriate employee securities trading.

Obama plans to introduce tougher taxation regime abroad

It is possible that British banks and investment companies may refuse to provide services to their American clients because of taxation-related measures which are currently being approved by the White House. To ensure more effective collection of taxes, Barack Obama wants to impose more severe regulation of American citizens abroad in general and in Great Britain in particular. According to British financial experts, this approach will hit larger banks in Great Britain and harms its national economy.

Bankers ask for easier requirements

The non-government Association of Russian Banks (ARB) proposed to unify the Bank of Russia’s supervisory requirements applied to banks to determine whether they may participate in the deposit insurance system or not. The association’s idea already found support in the Deposit insurance agency (DIA): bankers say that easier requirements would allow minimization of the risk of massive deposits withdrawal in case banks start to leave the deposit insurance program.