Новости

Visa hasn’t found a partner yet

The international payment system Visa is still looking for a partner to organize Russian processing of electronic payments – told Andrei Aleikin, head of the innovations department of Visa’s branch in Russia, CIS and South-Eastern Europe. He told that Visa was still searching for a Russian partner.

Russian auditors will turn into whistleblowers

The Ministry of Finance developed a new draft law according to which auditors in Russia will be obliged to cooperate with the Bank of Russia “for the sake of protection of public interest”. In other words, they will have to “blow their whistles” if the CB asks for information on any company.

FASB launched five new simplification projects

The Financial Accounting Standards Board (FASB) added five new projects to its agenda which are all (including two short-term ones on accounting for debt instruments and taxes) aimed to simplify US GAAP rules.

Russian companies won’t be excluded from S&P Dow Jones Indices – at least not straightaway

Relatively not long ago we informed on a possibility for S&P Dow Jones Indices to exclude Russian companies from calculation of its indices. The company now says that shares of Russian companies will still be there.

Nigeria struggles against financial fraud by Asian companies and adopts IFRS and IPSAS

The Institute of Chartered Accountants of Nigeria (ICAN) and the Financial Reporting Council of Nigeria (FRC) are launching a series of projects against financial fraud which in case of this county originates in the Asian region.

EFRAG published another discussion paper on levies

As part of its “Short Discussion Series” initiative the European Financial Reporting Advisory Group recently published another discussion paper on the subject of amendments to the IFRSs capable of changing the current accounting practice for levies.

EFRAG acquires a “single voice”

Internal rules and the constitution of the European Financial Reporting Advisory Group (EFRAG) were recently reviewed. A new established board will be responsible for the panel’s single position on whatever question is at stake.

New types of foreign financial instruments will be forbidden to Russian public servants

As part of the anti-corruption program Russian legislation will soon acquire a more precise definition for “foreign financial instruments”. It will be stipulated for public servants which types of foreign assets they are allowed to possess and which types they are not.

GAAP-IFRS.COM Digest: 11-15 August

Russian banks being advised to consider risks of not being able to use foreign software

Considering economic sanctions being adopted against Russia, it is a real possibility that foreign software producers will revoke their licenses for programs being used by Russian credit organizations and companies.