Новости

B20 doesn’t think changing accounting principles will increase attractiveness of long-term investments

Today long-term investments (and, correspondingly, long-term financing) are of special importance. Six global audit networks (we think it’s easy to guess which ones) not long ago formed a group of panelists (let’s call them “experts”) who analyzed existing accounting and corporate reporting practices to check for possible ways for improvement. Today they are presenting a report which provides an answer to a not so trivial question: is it possible to attract long-term investments to the private sector through improvements in accounting and corporate reporting?

EFRAG submits a collective opinion on IFRS 3 application in Europe

The European Financial Reporting Advisory Group (EFRAG) has presented a formal reply to the IASB’s Request for Information (RFI) concerning application of IFRS3 “Business combinations” in Europe. The information the EFRAG provides today was collected in the course of public events such as roundtables, surveys, etc.

“Comfortable auditors” will become more transparent

“Comfortable auditors” is the notional term used in respect of auditors which had used to perform inspections of banks that later lost their licenses. Business edition Kommersant informs that such auditors will have to become more transparent and disclose information on income of their top-managers.

Visa and MasterCard will have to spend $10 to $100 million in Russia each year

It was recently estimated that international payment systems like V and MC would have to spend from 10 to 100 million dollars each year on processing. In the end the exact amount will depend on a business model.

An unofficial European Commission’s expert group will evaluate IAS regulation

The group is “unofficial”. It will give advice and provide assistance to the European Commission with retrospective evaluation of IAS regulation.

GAAP-IFRS.COM Digest: 16-20 June

Most recent decisions on audit regulation in Russia

The Ministry of Finance published results of the most recent meeting of its Audit Council. It appears that the Council decided to implement certain suggestions which had been earlier advised by its work group in respect of regulation of self-regulatory organizations of auditors.

Role of valuation in conditions of global regulatory convergence

The International Valuation Standards Council (IVSC) has published its policy paper dedicated to the role of valuation in conditions of global financial regulatory convergence.

Fed continues to suspend QE3

The Federal Open Market Committee (FOMC) is suspending the quantitative easing program. The third quantitative easing (QE3) was launched in September 2012, and as part of it the Federal Reserve System has been purchasing federal bonds since then.

10 days will be given to improve credit history

Relatively not long ago we wrote that in Russia, credit history bureaus would soon start to acquire information on overdue payments for communication services and housing (also on unpaid alimony and rentals).