Новости

Financial Accounting Standards Board to Form Resource Group on Valuation Guidance Issues

Based on the feedback received through this process and consistent with its mission to improve and enhance the quality, consistency, and comparability of financial reporting, the FASB plans to form a resource group. This resource group will provide the Board with input on potential clarifying guidance on issues relating to the application of the principles of FASB Statement No. 157 “Fair Value Measurements”.

Stock exchanges voice strong support of IFRSs

In a recent letter in response to a consultation paper of the IOSCO Technical Committee, the World Federation of Exchanges (WFE) explained the importance of sound financial reporting to public capital markets and reaffirmed the WFE’s strong support of IFRSs.

EFRAG and various European National Standard-Setters publish a paper

The European Financial Reporting Advisory Group (EFRAG) and a number of other European accounting standard-setters - under the lead of the Accounting Standards Board (ASB) - have today published a brief paper discussing the rationale for including stewardship, or directors’ accountability to shareholders, as a separate objective of financial reporting.

PricewaterhouseCoopers Audit cancelled Yukos’s audit reports

Reuters reports that PricewaterhouseCoopers Audit, Russian branch of international auditing company “PricewaterhouseCoopers” (PwC) has cancelled its audit reports of “Yukos” Oil Company for the period 1999-2004.

SEC seeks easier foreign co. rules

Federal regulators on Wednesday took the first controversial step on a path that could lead to the acceptance of a single, global accounting standard for public companies.

Russian innovative companies stimulated by tax incentives

This week the State Duma of the Russian Federation has approved the legislation project during its second reading that will allow tax incentives for organizations working in innovative industries. Deputes had to thoroughly complement the list of tax incentives on VAT and profit taxes initially proposed by the Ministry of Finance of the Russian Federation. Experts predict this document will make most transactions with so-called “intellectual property” free of VAT for innovative industries.

KPMG in US begged to avoid “nuclear bomb”

KPMG pleaded with US prosecutors not to be indicted over the sale of fraudulent tax shelters, fearing charges would be a “nuclear bomb” that could wipe out the firm.

MICEX plans to lay restrictions on price fluctuations

Moscow Interbank Currency Exchange (MICEX) plans to limit daily price deviations – says Mikhail Temnichenko, head of equities trading at MICEX. Maximum change of price will be set at a level of 40%.

Accountants will need supervisory body, says ACCA

From December 2007, all accountants offering advice to the public will need to be supervised by an approved regulatory body - or risk breaking the law.

Russian banks are drowning in paperwork

Although the Central Bank of the Russian Federation allowed electronic accounting for commercial banks, they are nonetheless required to duplicate their accounts on paper. Their costs have not fallen, and they are not able to fully enjoy the new technologies because of the lack of written rules for their use.