Новости

ASB issues Amendment to FRS 25 “Financial Instruments: Presentation”

The Accounting Standards Board (ASB) has today issued an amendment to Financial Reporting Standard (FRS) 25 (IAS 32) “Financial Instruments: Presentation”, to change the classification from liabilities to equity of certain financial instruments.

Corporate social responsibility becomes popular in Russia

Medium-sized businesses in Russia are well-aware of all the world’s modern tendencies and are actively employing corporate social responsibility programs.

FFMS softened Bank of Russia’s normative standards

The Federal Financial Markets Service (FFMS) now knows how to simplify mortgage refinancing for small and medium banks. Starting from the beginning of September, a new order is coming into force. The document contains a new provision which allows credit institutions to keep pools of credits on their balances before the moment of financial securities placement. This will abandon the practice when banks are unable to receive interests on credits during the period when they are preparing for securitization.

Banks’ disclosures are not transparent enough

Banks have failed to achieve the level of the high level of disclosures required by accounting standards which intended to show greater transparency in how management dealt with risk.

Bank of Russia makes electronic cash registers obligatory for banks

In the nearest future banks in Russia will be obliged to use registers for cash transactions. The federal law under consideration makes no exceptions for credit institutions; however, it is up to the Central Bank to define the order of use of cash registers by banks – the thing it has never defined before.

Punishment for “Mechel”

The Federal Antimonopoly Service has finished its inspection of the Mechel’s case concerning violation of official requirements for pricing. Today, the Service makes decision on its punishment.

IFAC’s International Accounting Education Standards Board Releases Updated Education Pronouncements

To ensure that its pronouncements remain clear and relevant, the International Accounting Education Standards Board (IAESB), an independent standard-setting board within the International Federation of Accountants (IFAC), has released amended versions of its International Education Standards (IESs) and related education pronouncements.

US will adopt global accountancy model

The chairman of the International Accounting Standards Board is increasingly confident that the US is poised to adopt similar accountancy practices to the rest of the world.

Three new auditing standards introduced in Russia

New rules for Russian auditors were approved recently. By its Statement № 557 from July 22 the government introduced amendments to the federal auditing rules (standards). There are three new normative standards: Rule (Standard) №32 “Using the Work of Another Auditor”, Rule (Standard) №33 “The Independent Auditor’s Report on General Purpose Financial Statements” and Rule (Standard) №34 “Quality Control for Audit Work”.

Russian national accounting standard AS 1/2008 “Accounting policies” amended

Until recently, only minor amendments were applied, but this time Minfin goes for something more serious.