Новости

Duma hopes to recover concession arrangements in Russia

The State Duma of the Russian Federation is preparing for its second reading of amendments to the “About service concession arrangements” legislation and corresponding amendments to the Internal Revenue Code. Current situation in Russia is unsatisfactory, and government-private partnership programs are almost non-existent. Among other propositions is the introduction of tariff preferences for those concessionaries who sell their goods and services at regulated prices as well as tax incentives for service concession arrangements.

BAS publishes Consultations on new Standards

As part of its project to develop new actuarial standards, the Board for Actuarial Standards (BAS) has today published a consultation paper on the structure of its new book of standards and an exposure draft of a standard on reporting.

IASB accelerates off balance sheet project

The international standard setter is to accelerate its projects which address off-balance sheet issues.

CB to teach bank how to calculate effective rates on credits

The Central Bank’s first deputy chairman Gennady Melikyan announced last Friday that he had personally checked how banks were disclosing effective rates to their customers and felt a little disappointed. 49 banks were caught - accused for violation of the current requirement, and additional, more thorough checks await them.

NASB members sent comment letters to the international standard setter

Last week members of the National Accounting Standards Board of Russia (NASB) voted, agreed and finally sent two comment letters concerning the International accounting standards board’s (IASB’s) proposed amendments to IFRIC D23 “Distributions of Non-cash assets to owners” and IFRIC D24 “Customer Contributions”.

MEPs call for greater transparency from IASB

The report also called for impact studies among interested parties before adopting new accounting standards - along with consultations of parliament on the IASB’s work schedule.

EU allows US, Japan firms to keep accounting standards

U.S. and Japanese firms with a stock market listing in the European Union can continue filing accounts under home rules and thereby avoid costly changes, the European Commission decided on Tuesday.

Bank of Russia’s recent proposals still look frightening

This Wednesday the State Duma’s financial markets committee discussed the Central Bank’s proposals concerning toughening of it supervision. As a result, deputies advised more flexible approach, so that no bank will be parted with its license due to a single mistake in its accounting records amounting to 600 thousand rubles.

M&A activity of banks needs more accounting paperwork

According to the Bank of Russia’s new order, banks under reorganization will have to present accounting records to the regulator before and after the merger. Market participants think this is aimed at better transparency of credit organizations.

Board Adopts New Ethics and Independence Rule Concerning Communications with Audit Committees and an Amendment to its Existing Tax Services Rule

The PCAOB today voted to adopt Rule 3526, “Communication with Audit Committees Concerning Independence”, and an amendment to Rule 3523 “Tax Services for Persons in Financial Reporting Oversight Roles.