Новости

PCAOB to Consider Proposal to Enhance International Cooperation in Inspections

The Public Company Accounting Oversight Board has scheduled an open meeting for Wednesday, December 5, at 3:00 pm, in the Board’s open meeting room at 1666 K St. NW, Washington, DC.

New accountancy legislation ready for consideration

The Ministry of Finance of the Russian Federation has added a complete version of legislation project on accountancy for the State Duma’s further consideration. Minfin presumes this would get Russian accounting standards close to international ones and increase companies’ transparency for investors. The authority is not intending to ease regulation – despite all promises made earlier, professional unions still remain with their role of observers, while Minfin’s the regulator.

“3L3” consultation on joint work programme

The goal is to ensure consistency of regulation, supervision, and enforcement.

FATF will report on Russia in February-2008

The Financial Action Task Force (FATF) announced it was going to prepare its preliminary report on Russia’s compliance with its recommendations in February-2008 – “Interfax” acquired this information from the Federal Financial Monitoring Service’s (FFMS) inner sources. “Preliminary report will be ready in February, but only in summer it will be finalized”, - he or she said.

IASB gets overseers for its decisions

The Trustees of the International Accounting Standards Committee (IASC) Foundation has announced the inaugural membership of the extensible business reporting language (XBRL) advisory council and XBRL quality review team.

GASB Issues Statement on Endowment Real Estate

The Governmental Accounting Standards Board has issued a statement that requires government endowments to report their land and other real estate investments at fair value.

FFMS will become sole exchange regulator in Russia

Government promised its support only in case of final revision for its second reading. Ministry of Finance, Ministry of Justice and Ministry for Economic Development plan to add two major things. First, they are going to specify order of licensing of bourses, and, secondly, they don’t want to spread on already functioning exchanges that norm which prohibits one single shareholder of exchanges (and his/her affiliated parties) from having more than 10% of shares.

EU Parliament resolution on procedure for endorsing IFRSs

At its meeting last week, the Parliament considered whether to give the Commission the authority to decide on the applicability of IFRSs “in exceptional and duly justified cases and on imperative grounds of urgency” without the normal “regulatory procedure with scrutiny” methodology, that is, to allow IFRS endorsements without involvement of the Parliament itself.

Revolutionary changes in RF’s banking regulation

Starting from the very beginning of 2008, the Central Bank of the Russian Federation introduces a new system of banking financial oversight based on sophisticated IT-infrastructure. Through it, the CB’s central office will be able obtain information from its regional offices’ checking banks much quicker. Market participants hope for more objectivity in financial supervision.

IASB Delays Business Combo Standard

The International Accounting Standards Board has decided to postpone the effective date of its new accounting standard for business combinations until July 1, 2009.