Новости

APB consults on IAASB’s exposure drafts

The Auditing Practices Board (APB) is asking for comment on a number of “clarity” exposure drafts issued by the International Auditing and Assurance Standards Board (IAASB).

Russian banks actually win

By the end of last week, shares of Russian banks fell due to a wave of negative news from the West. In two days, most liquid shares lost 8% on average. However, experts are sure that this fall is mostly due to psychological reasons, and that Russian commercial banks actually win because western banking system is loosing confidence of its participants. Not trusting its rivals, western banks borrow funds from Russian credit organizations.

GAAP-IFRS.com: updates

AICPA Criticizes Proposed Estate Regulations

The American Institute of CPAs is criticizing proposed regulations for how post-death events might be considered in determining the value of a taxable estate.

MICEX lays restrictions on prices

Today  Moscow Interbank Currency Exchange (MICEX) imposed additional restrictions on price fluctuations while securities transactions are carried. Restrictions are aimed to prevent errors while quotations are being formed after unqualified investors’ decisions. However, price corridors are too wide, and market participants really doubt this will eliminate the risk of unjustifiable price setting.

The ASBJ and the IASB announce Tokyo Agreement on achieving convergence of accounting standards by 2011

Ikuo Nishikawa, Chairman of the Accounting Standards Board of Japan (ASBJ), and Sir David Tweedie, Chairman of the International Accounting Standards Board (IASB), jointly announced today an agreement (known as the Tokyo Agreement) to accelerate convergence between Japanese GAAP and International Financial Reporting Standards (IFRSs), a process that was started in March 2005.

IVSC consults on fair value for IFRS

The International Valuation Standards Committee (IVSC) is consulting on the determination of fair value of intangible assets for the purpose of reporting under International Financial Reporting Standards.

Sarbox brought “positive benefits”, says FEI chief

Speaking five years after the Act was signed into law, Michael Cangemi, the president and CEO of Financial Executives International, a US association of chief financial officers and other senior financial executives, praised Sarbox for bringing an “expanded focus on improved controls in all aspects of company operations”.

Management companies forced to disclose everything about their shareholders

The Ministry of Justice of the Russian Federation registered a new statement that requires management companies and special departments (depositaries) to disclose all information about their shareholders (their composition and structure) providing that these companies manage funds of non-state pension funds (NPFs).

Deloitte comments on three proposed auditing standards

In each case, while offering some suggestions for improvement, it concluded that they are supportive of the proposed auditing standard.