Новости

Minfin’s letters to be put under control

Russia’s Supreme Arbitration Court is about to put an end to all legislation discrepancies. As its representatives officially announced, the Court plans to evaluate all letters issued by the Ministry of Finance of the Russian Federation and the Federal Taxpayers Service (FTS) for the degree of their correspondence to the Internal Revenue Code. This may solve two problems in a row: first, companies will stop their applications to court with identical tax disputes and, secondly, tax authorities will learn to stop and be less aggressive in cases where there are some doubts that they are right with their decision.

Industry guidance not compulsory, FSA confirms

The Financial Services Authority will not take action against a firm that ignores guidance from their trade associations it confirmed today as it rolled out a key aspect of its new principles-based approach.

State Duma approves statistical accounting

Yesterday an “Official statistical accounting” legislation project was approved by the State Duma of the Russian Federation during its first reading. Russian enterprises will be forced to disclose to the Federal State Statistic Service (FSSS, also known as “Rosstat” or “Goskomstat”) all types of information needed, including the one of state and commercial secret. Deputies approved the project despite the fact that all secret information may possible become a subject to illegal selling.

ICAEW enters into member deal with Pakistan institute

The move is part of the ICAEW’s drive to be recognized as a “major player” in both emerging and recognized markets, and not just as a respected UK body.

New legislation for consumer crediting may cause creation of alternative banking system in Russia

Russian business edition “RBC-daily” acquired a new draft of consumer crediting legislation recently prepared by the Ministry of Finance of the Russian Federation. It is assumed to affect credit institutions alone. Experts say this may lead to creation of other system of people’s crediting, alternative to the banking system.

Iraqi Union of Accountants and Auditors provides training to Central Bank of Iraq

Through a training partnership developed with the Central Bank of Iraq (CBI), the Iraqi Union of Accountants and Auditors (IUAA) recently provided a course in International Accounting Standards and International Financial Reporting Standards (IAS/IFRS) to CBI employees.

ICBG promotes financial transparency within Iraqi banking community

The Iraqi Company for Bank Guarantees (ICBG) set an example of transparency to its shareholders by preparing its interim financial statements to June 30 in accordance with the International Accounting Standards.

Do not trust official accountancy of Russian enterprises

Russian enterprises themselves warn that their accountancy should not be fully trusted: it is frequently distorted in order to lower tax burden and to increase investment attractiveness. This was discovered by the latest survey from the Institute for the Economy in Transition (IET).

Second ACCA council member joins rival institute

ACCA faces more embarrassment after Jason Parker, a senior partner at Parker Randall and council member, used the ICAEW’s Pathways membership scheme to join the institute.

Deputies fear another banking crisis because of extremely toughened control

Yesterday Anatoliy Aksakov, deputy chairman of the Banking supervision committee of the State Duma of Russian Federation, sent an official request to Yury Chaika, Prosecutor General of Russia, stating that he was seriously worried by the extent Russian banks are being checked by law-enforcing authorities. Currently, the most “controlled” banking business is issuing consumer credits, and the thing that is being controlled is the availability of effective (real) rates on these credits.