Новости

Statement of the European Commission and the U.S. Securities and Exchange Commission

SEC Chairman Christopher Cox and the European Commissioner for the Internal Market and Services Charlie McCreevy met in Washington, D.C., on February 1. They had a wide-ranging discussion on topics of mutual interest, including the current market volatility, accounting standards, sovereign wealth funds, credit rating agencies, XBRL developments and mutual recognition of securities regulation. With regard to the recent market movements, they discussed national and international efforts to analyze the circumstances resulting in the loss of market liquidity and mitigate its recurrence.

CB is working on a new liquidity standard for banks

The Central Bank of the Russian Federation has decided to prepare a new standard on liquidity after its most recent revision of existing normative standards for required reserves. This was officially announced by Alexei Simanovski, head of the CB’s banking regulation department, signaling their still existing concerns on liquidity risks in Russia’s banking system.  He said that it was planned as a new instant liquidity normative.

IAASB Amends International Standards on Review Engagements to Clarify their Applicability to Specific Engagements

The International Auditing and Assurance Standards Board  has agreed to amend ISRE 2400 “Engagements to Review Financial Statements” and ISRE 2410 “Review of Interim Financial Information Performed by the Independent Auditor of the Entity”.

Russia’s government to protect its companies abroad

Soon in Russian Federation, there may be formed a new structure that will help Russian companies to protect their interests abroad. Government is ready to pay up to 1 billion USD for that. This was promised by a presidential candidate Dmitri Medvedev during his speech on conference held by the Russian Union of Industrialists and Entrepreneurs.

EFRAG issues a European discussion paper on “The Financial Reporting of Pensions”

EFRAG, together with various European national standard setters, has issued a discussion paper on The Financial Reporting of Pensions.

Transfer pricing reconsidered

The Ministry of Finance of the Russian Federation came out with an amended legislation for transfer pricing. This was officially announced yesterday by Sergei Shatalov, Minfin’s deputy chairman.

Board Adopts New Auditing Standard No. 6: Evaluating Consistency of Financial Statements

The Public Company Accounting Oversight Board today voted to adopt Auditing Standard No. 6 “Evaluating Consistency of Financial Statements” and an accompanying set of amendments to the Board’s interim auditing standards.

MICEX prolongs trading session for one hour

Moscow Interbank Currency Exchange announced its plans to extend its trading session till 7 p.m. Another Russian bourse RTS is about to do the same in February. Market participants state that this extension allows investors to react to financial news coming from abroad more promptly.

GAAP-IFRS.com: IMPORTANT ANNOUNCEMENT!

GAAP-online.com changes its domain name to GAAP-IFRS.com.

ASB considers share-based payments

The amendments would put the standard in line with amendments made to the equivalent international standard, IFRS 2, Share-based Payment , that were proposed by the International Accounting Standards Board in December.