Новости

Latest NASB meeting: brief results

At its latest meeting held on January 24th, the National Accounting Standards Board of Russia (NASB) organized a preliminary exchange of views on the most recent projects of the International Accounting Standards Board (IASB): ED Proposed Amendments  to IFRS 1 “First-time Adoption of International Financial Reporting Standards” and IAS 27 “Consolidated and Separate Financial Statements – Cost of an Investment in a Subsidiary, Jointly Controlled Entity or Associate” and ED Proposed Amendments to IFRS 2 “Share-based Payment” and IFRIC 11 IFRS 2 “Group and Treasury Share Transactions”.

European Discussion Paper on Equity and Liabilities

EFRAG has today published a Discussion Paper “Distinguishing between Liabilities and Equity” on behalf of the Pro-active Accounting Activities in Europe (PAAinE). The paper was developed by the German standard-setter.

FRC chief slams GAO report

Responding to publication of a report prepared for the US Congress by the United States Government Accountability Office (GAO), Boyle queried the report’s assertion that the market-domination of the four largest accountancy firms was not having a significant adverse effect.

IFAC’s International Public Sector Accounting Standards Board Issues New Disclosures on External Assistance

The new disclosure requirements and recommendations are set out in the updated International Public Sector Accounting Standard, Financial Reporting under the Cash Basis of Accounting (Cash-Basis IPSAS).

FASB Agrees to Defer FIN 48

The Financial Accounting Standards Board has agreed to defer the effective date of Interpretation No. 48, “Accounting for Uncertainty in Income Taxes”, for nonpublic entities to years beginning after Dec. 15, 2007.

Foreign securities in Russia await tougher regulation

Starting from the 1st of February 2008 all foreign financial instruments will be assigned international codes ISIN (International securities identification number) and CFI (Classification of Financial Instruments). ISIN identifies issue and CFI sets rights for a security.

IASB issues amendment to IFRS 2 Share-based Payment

The amendment deals with two matters. It clarifies that vesting conditions are service conditions and performance conditions only. Other features of a share-based payment are not vesting conditions. It also specifies that all cancellations, whether by the entity or by other parties, should receive the same accounting treatment.

IFRIC publishes proposed guidance on distributions of non-cash assets to owners

The IFRIC was asked to provide guidance on how an entity should measure distributions of assets other than cash when it pays dividends to its owners acting in their capacity as owners... Customer contributions are transactions in which an entity—the access provider—receives an asset it uses to provide access to an ongoing supply of goods or services to a customer or customers.

Corporate legislation delayed in Russia

According to the concept for further development of corporate legislation (approved in 2006), some major changes are scheduled for 2008, which is now. It is assumed that the concept provides effective mechanisms for protection of property rights; effectiveness of corporate management is to be increased; a new system of organizational and legal forms of legal entities is to be implemented and all contradictions of corporate legislation are to be annihilated.

European Commission proposals on statutory audits

Charlie McCreevy, the EU Commissioner for Internal Market and Services, has released details of Planned Revisions to the Statutory Audit Requirements (PDF 80k) in the European Union.