Новости

Canada “to adopt IFRS as GAAP”

Accountants in Canada are set to adopt International Financial Reporting Standards (IFRS) as their Generally Accepted Accounting Principles (GAAP), in a move that is expected to bring Canada’s accounting industry closer in line with international standards.

Yet another set of anti-raid amendments to Russia’s corporate legislation

Proposed amendments are aimed to improve current arbitration procedural legislation as well as regulation of joint-stock companies’ and limited liability companies’ activity where corporate conflict issues are involved.

CFA Institute’s new comprehensive business reporting model

The CFA Institute Centre for Financial Market Integrity has published a new financial reporting model that is intended to enhance the ability of financial analysts and investors to evaluate companies in making investment decisions.

Rules for private investments into federal real estate finally approved

Russian government plans to control all deals for modernization, reconstruction and further privatization of federal real estate property under federal state unitary enterprise control by private investors. Last week Russian Prime Minister Mikhail Fradkov signed an order, under which all deals with federal real estate for the value higher than 150 million rubles require official permission of the government.

AIDB changes its name

The profession’s supreme watchdog, the Accountancy Investigation and Discipline Board, has changed its name to reflect the fact that it now includes actuaries in its remit.

FFMS to fight insider trading and money laundering

Russian Federal Financial Markets Service’s functions are being restructured for more efficient prevention of money laundering and inside information abuse. Initiative comes from the agency’s current chairman, Vladimir Milovidov. Market participants predict increased attention from the regulator’s side and increased number of penalties.

BDO Loses Miami Audit Case

BDO Seidman was ordered to pay $170 million in compensation by a Florida jury that blamed the accounting firm for negligence in failing to uncover fraud in its audits of a financial services company.

Calculation of the RTS index will be changed soon

One of the major indicators of Russian securities market, the RTS index will soon be calculated by another technique, similar to techniques employed for calculation of many international securities markets indexes. This is how Russian Trading System is trying to maintain its attractiveness, because overall informative usefulness of RTS index to investors is declining.

SEC concept release on use of IFRSs by US companies

The US Securities and Exchange Commission has published a Concept Release to obtain information about the extent and nature of the public’s interest in allowing US issuers, including investment companies subject to the Investment Company Act of 1940, to prepare financial statements in accordance with International Financial Reporting Standards.

Russian FTS awaits massive reorganization

The Federal Taxpayers Service of the Russian Federation will soon be seriously reorganized. FTS wants complex control over taxes, and for that, it needs to unite its separate divisions. Also, experts say that it wants to control economic business activity of enterprises rather than taxes they pay.