Новости

Another tax amnesty possible in Russia

Putin does not exclude a possibility of another tax amnesty in Russia – the important thing is to work up the corresponding law properly, and this is now left to the Duma.

Risks of excessively long relations between auditors and clients being attended by the Code of Ethics

Yesterday the International Ethics Standards Board for Accountants (IESBA) issued an exposure draft of new amendments to the Code of Ethics for Professional Accountants. Those form a response to numerous concerns around maintaining independence by auditors engaged in professional relations with their clients for a prolonged period of time.

IASB vice-president Ian Mackintosh sees IFRSs as “inevitable”

Vice-chairman of the IASB Ian Mackintosh delivered a speech recently at the IFRS Foundation’s conference in Johannesburg (SA) where he discussed progress with convergence and achievability of global accounting standards.

What does «clear and concise» accountancy mean?

The Financial Reporting Lab which operates under auspices of the Financial Reporting Council of Great Britain (FRC) has published yet another report. Last month we informed on its conclusions for the previous research subject: what do investors expect to know about accounting policies. The Lab’s representative Sue Harding said that those suggestions supported “Clear & Concise reporting”. But what does “clear and concise” mean actually?

“Rosneft” applying to the government for financial support

Sector-wide sanctions seem to be working. Last week we informed that two large credit organizations, Rosselkhozbank and Gazprombank, had asked the government for financial aid. Today a similar news came for “Rosneft” and its head Igor Sechin.

NSFO Foundation may be recognized as a “foreign agent” in Russia

Deputies of the State Duma from the “United Russia” political party have asked the Department of Justice to check activity of the National Organization for Financial Accounting and Reporting Standards, suspecting influence of foreign entities’ participation.

Argentina’s default is another reminder of necessity to adopt IPSASs - IFAC

Considering the recent default of Argentina, true and fair accountancy by public sector entities is again in spotlight of global regulators. Today the International Federation of Accountants applauds the SEC’s intentions for force municipal government entities to present their accountancy in full.

IASB abandons the dual model of lease accounting

The International Accounting Standards Board abandoned its former views on lease accounting, thus floating even further away from the FASB and, thus, successful convergence of IFRS-US GAAP standards

Limited amendments to IAS 27

Those changes aimed to support organizations with application of the equity method of accounting for investments in subsidiaries, joint and associate entities.

Receivables: troubled debt restructurings by creditors - guarantees

According to certain US government programs of loan guarantees, creditors have a right to extent their mortgage credits with a special guarantee if they want to receive in full or at least partially the unpaid amount upon foreclosure if a borrower defaults.