Новости

IFAC’S International Public Sector Accounting Standards Board Advances Convergence Strategy

The International Public Sector Accounting Standards Board (IPSASB), an independent standard-setting board within the International Federation of Accountants (IFAC), has issued two new standards to further convergence with International Financial Reporting Standards (IFRSs) developed by the International Accounting Standards Board (IASB).

FSF Working Group on Market & Institutional Resilience - Interim Report (February 2008)

The FSF’s Working Group on Market and Institutional Resilience has sent an interim report to G7 Finance Ministers and Central Bank Governors. It discusses the Working Group’s views to date on adjustments and near-term challenges in the financial system; the causes of and weaknesses revealed by market turbulence; and broad policy directions for strengthening the resilience of key elements of the financial system.

Russian MEDT to protect small business in less than two weeks

Head of the Ministry for Economic Development and Trade (MEDT) Elvira Nabiullina announced development of a new program to assist Russia’s small and medium enterprises in two week’s time. This was announced yesterday during official conversation between RF’s president Vladimir Putin and members of the government.

Trustees announce strategy to advance review of constitution

The Trustees of the International Accounting Standards Committee (IASC) Foundation, the oversight body of the International Accounting Standards Board (IASB), today announced a strategy for the review of the IASC Foundation’s Constitution. The Constitution sets out the organisation’s governance arrangements.

German Gref predicts problems with liquidity in Russia

Last Friday Sberbank’s chief (and former Minister for Economic Development and Trade) German Gref made predictions concerning future development of banking sector in Russia. According to him, already in second quarter of 2008, banks will be forced to increase rates on credits which may lead to decrease in private sector crediting volume. Despite that, experts are sure even this can’t significantly affect pace of development of banking industry of the Russian Federation.

IOSCO urges clear disclosure of accounting framework

The International Organization of Securities Commissions (IOSCO) – the consortium of the world’s securities regulators – has published a statement urging publicly traded companies to provide investors with clear and accurate information on the accounting standards used to prepare their accounts.

Update on Funding for 2008

The IASC Foundation set four principles for a funding system in 2008 and beyond.

FFMS eased qualification of foreign financial securities

This Wednesday the Federal Financial Markets Service of Russia announced changes to its order to regulate qualification of foreign financial instruments on Russian bourses. First seen as toughening, with the introduction of international codes ISIN and CFI starting from February 1st, the regulator’s final decision takes into account wishes of plain market participants.

SEC Begins Small Business Costs and Benefits Study of Sarbanes-Oxley Act Section 404

The Securities and Exchange Commission announced that its professional staff has commenced a cost-benefit study of an upcoming auditor attestation requirement for smaller companies under Section 404(b) of the Sarbanes-Oxley Act of 2002.

FFMS is about to make life a bit easier

The Ministry of Justice of the Russian Federation has registered a Federal Financial Markets Service’s order that legally allows professional financial market participants to lower internal capital adequacy normative standard for up to 20% by means of liability insurance contracts. Most likely, this possibility will interest smaller companies which struggle with all new requirements effective since the beginning of 2008.