Новости

SEC Commences Work on Congressionally Mandated Study on Accounting Standards

The Securities and Exchange Commission today announced additional details on the process and initial steps that the SEC has undertaken to conduct a study on “mark-to-market” accounting, as authorized by Sec. 133 of the Emergency Economic Stabilization Act of 2008, signed into law by President Bush last Friday.

New IAASB Audit Practice Alert Focuses on Fair Value Accounting Estimates

The alert was developed following consultation with the IAASB’s Task Force on Fair Value Auditing Guidance, which is considering the need for new or modified guidance in light of current marketplace issues.

Russia’s “set” of anti-crisis laws is scheduled for approval this Friday

The set of amendments under consideration has already been approved in its first reading by the State Duma of the Russian Federation, and its next (second) reading will be held on October 10.

Banks in Russia may be kicked out of the deposit insurance program

Judging by results for the third quarter of the year 2008, it looks like that many banks in Russia won’t be able to meet requirements to participate in the Deposit Insurance Program of the Russian Federation.

SEC Office of the Chief Accountant and FASB Staff Clarifications on Fair Value Accounting

The current environment has made questions surrounding the determination of fair value particularly challenging for preparers, auditors, and users of financial information. The SEC’s Office of the Chief Accountant and the staff of the FASB have been engaged in extensive consultations with participants in the capital markets, including investors, preparers, and auditors, on the application of fair value measurements in the current market environment.

IFAC Supports a Single Set of Auditing Standards

The paper sets out IFAC’s view that International Standards on Auditing (ISAs) are designed to be applicable to audits of financial statements of entities of all sizes, and highlights the ways in which the International Auditing and Assurance Standards Board (IAASB) considers the needs and perspectives of small- and medium-sized entities (SMEs) in the development of those standards.

IFAC’s Public Sector Accounting Standards Board Launches Work on International Public Sector Conceptual Framework

The International Public Sector Accounting Standards Board (IPSASB), an independent standard-setting board of the International Federation of Accountants (IFAC), has issued for comment the first in a series of consultation papers focused on the development of an international public sector conceptual framework.

Russian investors await decision on Paulson Plan

Investors in Russia are waiting for decision on Paulson Plan on proposed bailout of the United States financial system (by giving the U.S. Secretary of the Treasury $700 billion with which to purchase distressed assets).

FASB Issues Exposure Drafts to Amend Statement 140 and Interpretation 46(R)

The Financial Accounting Standards Board (FASB) today issued three separate but related Exposure Drafts (EDs) for public comment.

New Rules For Biotechs

New financial reporting rules aimed at aligning U.S. standards with international ones could change the way biotechs and other life science companies account for mergers and acquisitions and other activity when they take effect Jan 1.