Новости

Bank of Russia may soon become a professional financial markets participant

A new legislation project has recently been passed to the State Duma of the Russia Federation that will allow the CB to participate in financial markets operations. Experts say that the Bank of Russia will be able to affect state of the markets, thus altering market prices of financial securities.

CEBS approves amendments to the guidelines on financial reporting

The Committee of European Banking Supervisors (CEBS) is publishing today the approved amendments to the Guidelines on Financial Reporting (FINREP) which were submitted for public consultation on 20 April 2007.

Russian banks will be checked for information security

Apparently, only 16% of all Russian banks are ready for the new information security standard proposed by the Central Bank of the Russian Federation to protect information leakages concerning banks clients’ private details.

PwC avoids Yukos action

PricewaterhouseCoopers will not face legal action over its role as auditor of bankrupt Russian oil company Yukos, the firm has confirmed.

Foreign investments into Russia await only slight limitations

A legislation project “About order of making foreign investments into commercial organizations with strategic value to the national security of the Russian Federation” was passed to the State Duma for its further consideration after it was signed by Russian Prime Minister Mikhail Fradkov on July 16, 2007.

Board to Consider Proposing New Ethics and Independence Rule And Amendment to Existing Tax Services Rule

The Public Company Accounting Oversight Board has scheduled an open meeting for 9:30 a.m. Tuesday, July 24, 2007, in the Board’s meeting room at 1666 K St. NW, Washington, D.C.

IFRIC publishes proposed guidance on hedges of a net investment in a foreign operation

IFRIC D22 clarifies two issues that have arisen on two accounting standards—IAS 21 The Effects of Changes in Foreign Exchange Rates and IAS 39 Financial Instruments: Recognition and Measurement —about the accounting for hedging foreign currency risk within a company and its foreign operations.

Bank of Russia issued a new draft Instruction

It is already expected to be disliked by market participants, as the new regulations will increase the volume of accounting documents and will force Russia’s residents to draw up records of their clients.

IFRIC issues interpretation on IAS 19—Defined Benefit Assets and Minimum Funding Requirements

The International Financial Reporting Interpretations Committee has today issued an Interpretation, IFRIC 14 IAS 19—The Limit on a Defined Benefit Asset, Minimum Funding Requirements and their Interaction.

IFRIC publishes proposed guidance on real estate sales

The International Financial Reporting Interpretations Committee (IFRIC) has today released for public comment a draft Interpretation, IFRIC D21 Real Estate Sales. The proposal is open for public comment until 5 October 2007.