Новости

CSR to be measured under new rating system in Russia

Russia’s first ever rating system to measure Corporate Social Responsibility (CSR) was presented last week by DK international project bureau in Moscow. According to it, the following companies get “A” rating: Gazprom, Lukoil, Nornikel, RAO UES, Rusal and Russian Railways. Although companies think it may be useful, they are all going to use it for different purposes – from valuation of investments into social sphere to branding and risk management.

IASB publishes revised proposals for determining the cost of an investment in separate financial statements

The International Accounting Standards Board (IASB) published today for public comment an exposure draft of proposed amendments to IFRS 1 First-time Adoption of International Financial Reporting Standards and IAS 27 Consolidated and Separate Financial Statements.

IASB proposes guidance on group cash-settled share-based payment arrangements

The International Accounting Standards Board (IASB) today published for public comment an exposure draft of proposed amendments to IFRS 2 Share-based Payment and IFRIC 11 IFRS 2— Group and Treasury Share Transactions.

IFRS conference held in Russia

This week’s Tuesday and Wednesday, an International Financial Reporting Standards conference “Making the Transition to IFRS” was held in Moscow’s Le Royal Meridien National hotel, organized by IIR with Grant Thornton’s sponsorship and information support by GAAP-online.com, among others.

Prince Charles outlines green reporting vision

Companies should report on five key environmental indicators, a report sponsored by the Prince of Wales has said.

Latest NASB meeting: brief overview

At its latest meeting held on November 22nd, the National Accounting Standards Board of Russia discussed projects of Russia’s national accounting standards AS 27 “Consolidated and Separate Financial Statements” and AS 28 “Accounting for Investments in Associated Companies”, fully prepared and ready to be issued for public discussion and presentation of comments. Also - official letters of response to IASB concerning its “annual improvements project” and ED 9 “Joint arrangements”, issued in September.

PCAOB Issues Staff Audit Practice Alert on Fair Value

The Public Company Accounting Oversight Board today published a Staff Audit Practice Alert on the audit of fair value measurements in financial statements. The alert provides auditors with additional information related to auditing fair value measurements and disclosures, as well as the use of specialists in this area.

MICEX introduces a new clearing scheme

According to the announcement of the Moscow Interbank Currency Exchange (MICEX), it is starting a new clearing scheme for foreign exchange trading with the use of “central clearing agent”, the role of which is going to be played by the “National Clearing Centre” commercial bank. “For the first time ever, in Russia, there will be a credit organization that is going to ensure reliance of all infrastructural components of exchange and over-the-counter (OTC) markets” – says the official press release.

PCAOB Issues for Comment Proposed Guidance Regarding the Implementation of PCAOB Rule 4012

The Public Company Accounting Oversight Board (PCAOB) today voted to issue for public comment a proposed policy statement that identifies the factors relevant to “full reliance” by the Board on the inspections systems of its non-U.S. counterparts that are sufficiently rigorous to meet the level of protection for investors that is required by the Sarbanes-Oxley Act of 2002.

Minfin plans to abandon VAT free regime for import of property to be added to companies’ registered capital

The Ministry of Finance of the Russian Federation has prepared a law project to abandon custom-free regime and exemption from value added tax (VAT) for property to be further added to company’s registered capital, imported from abroad. Its decision to get rid of the current practice (which allows companies to save about 4 billion rubles per year) is explained by problems with its administration and frequent abusive behavior in that respect.