Новости

U.S. Chamber Says Proposed Changes to FASB Standard will Benefit Plaintiffs’ Lawyers, Not Investors

The U.S. Chamber of Commerce today voiced strong opposition to proposed accounting rule changes that it says would open the door to lawsuit abuse by trial lawyers and would not provide clear or useful new information to investors.

IASC Foundation publishes new IFRS taxonomy module manager

The International Accounting Standards Committee (IASC) Foundation has released a new IFRS Taxonomy Module Manager (ITMM). ITMM is an add-on for the IFRS Taxonomy 2008.

China allowed direct investments into Russia

Chinese issuers will be allowed to place theirs securities on the Russian market directly. Besides, China will be able to keep gold and foreign exchange reserves in Russia, all of which became possible because of the Memorandum of Understanding (memorandum of information exchange) between the Federal Financial Markets Service (FFMS) and the China Securities Regulatory Commission (CSRC).

FASB Issues Staff Position FAS 117-1

The guidance is intended to improve the quality and consistency of financial reporting of endowments held by not-for-profit organizations.

IASB proposes amendments to simplify and achieve convergence in the calculation of EPS

The International Accounting Standards Board (IASB) today published for public comment proposals to simplify the calculation of earnings per share (EPS) and to eliminate differences between the methods required by International Financial Reporting Standards (IFRSs) and US accounting standards to calculate EPS.

IASB publishes proposals for amendments under its annual improvements project

The International Accounting Standards Board (IASB) today published for public comment an exposure draft of proposed amendments to eight International Financial Reporting Standards (IFRSs) under its annual improvements project.

S&P raised rating of the Russian banking system

Standard & Poor’s (S&P), an international rating agency, increased its rating of stability of the Russian banking system. They explain their decision by increased activity of the Bank of Russia and the government, which both intend to maintain high liquidity of the banking sector in times of the current financial crisis. Experts reacted positively on the rating agency’s new opinion, but they think that this final rating is still smaller than it should be.

Merging procedure simplified for Russian banks

The Federal Antimonopoly Service’s idea to simplify reorganization procedures for the banking sector found the government’s support. The maximum asset threshold for banks wishing to merge without the antimonopoly service’s permission was increased by 40% by the official decision. In times of the financial crisis, this won’t be useless for Russian banking institutions. However, officials explain their initiative by reasons other that simple worries for the banks’ bright future – on the contrary, it is attributed to increased self-sufficiency of the Russia’s banking sector.

Commission decision cuts red tape for audit firms from third countries

The European Commission adopted today a decision granting a transitional period for the registration requirements for audit firms from 30 non-EU countries. The decision clarifies how the competent authorities in Member States should deal with third country audit firms under the Statutory Audit Directive. In the context of its work on monitoring the implementation of the Statutory Audit Directive, the Commission published a scoreboard on where the 27 Member States stand with their implementation of the Statutory Audit Directive, which had to be transposed into national law on June 29, 2008.

Government plans to make an international financial center out of Moscow

In March, we wrote about proposals by the Federal Financial Markets Service that could possibly increase investment attractiveness of the Russia’s capital city and make an international trade center out of it – similar to London, for example. Today, “RBC-Daily” presented some of the details of the concept which is being developed in secret by the government.