Новости

FASB Will Launch New Standards Codification in July

The Financial Accounting Standards Board plans to introduce a new official accounting standards codification on July 1 that will supersede other sources, including the AICPA.

Consultation on the Cost-effectiveness of FRC Regulation - Feedback Statement

The Financial Reporting Council, the UK regulator responsible for promoting confidence in corporate reporting and governance, has published a statement summarizing the responses to its discussion paper “Cost-effectiveness of FRC Regulation” and giving its feedback.

NAUFOR applies international standards for risk-management practices

The National Association of Securities Market Participants (NAUFOR) has developed risk-management standards for market participants. Those will define requirements in accordance with the European Union’s and Basel committee’s recommendations. Those standards will be introduced in the first half of 2009 on voluntary basis; however, those may soon become mandatory.

Paul Cherry to chair Standards Advisory Council

The Trustees of the International Accounting Standards Committee (IASC) Foundation, the body that oversees the International Accounting Standards Board (IASB), announced today that Paul Cherry has been appointed as Chairman of the Standards Advisory Council for three years beginning on 1 January 2009.

Auditors question $700bn US bail-out plan

The US government must toughen the monitoring of its $700bn (£468bn) financial bailout to ensure banking institutions limit their top executives’ pay and comply with other restrictions, federal auditors said yesterday in the first comprehensive review of the US government’s $US 700bn rescue package.

Insider information will be put under control

Before the end of the year, Russia’s government plans to discuss a law project on insider information – announced Anna Popova, deputy chairperson of the Ministry for Economic Development. The project is already submitted under the standard procedure. During the next year’s spring session, it will most likely be discussed by the State Duma’s deputies. It is already known for sure that this version of the law contains no provisions for criminal liability.

Accounting Standards Board of Japan Meets with Financial Accounting Standards Board to Discuss Global Convergence

Representatives of the Accounting Standards Board of Japan (ASBJ) and the Financial Accounting Standards Board (FASB) gathered last week in Norwalk, CT. Led by Ikuo Nishikawa, Chairman of the ASBJ, and Robert H. Herz, Chairman of the FASB, the meeting was the sixth in a series of discussions between ASBJ and FASB designed to enhance dialogue between the two Boards in their shared pursuit of global convergence of accounting standards.

BAS publishes Fast Track Consultation Paper on amending TM1 for revised contracting out provisions

The BAS is today publishing a fast track consultation paper on proposed amendments to TM1 to reflect recent changes in legislation affecting contracted out money purchase pension arrangements.

Minfin adopts another accounting standard

The Ministry of Finance of the Russian Federation (Minfin) has adopted Russia’s national accounting standard AS 2/2008 “Construction Contracts” which is to be employed by Russian companies starting from the very beginning of 2009. The Minfin’s order was registered by the Ministry of Justice on November 24th.

Russia creates a special committee to fight crisis

The State Duma’s deputies from the “United Russia” political party have created an anti-crisis committee to be chaired by the Duma’s speaker Yuri Volkov. The committee’s first meeting is scheduled for Friday (December 5th) – announced Pavel Medvedev from its banking committee.