Новости

MASB amends FRSs, issues new framework

The Malaysian Accounting Standards Board (MASB) has made revisions to 10 Financial Reporting Standards (FRSs) and issued the Framework for the Preparation and Presentation of Financial Statements.

G8 audit concentration “dangerously high”

The levels of audit market concentration across the world’s eight largest economies are “dangerously high”, according to a new survey.

Europe demands audit liability reform

The responses to a consultation on auditor liability were published last week by the Commission and, though they were subsequently removed from the body’s website, are understood to have overwhelmingly backed limited liability plans.

Retailers seen taking lease accounting hit-study

Retailers could see some big changes in their earnings reports and balance sheets, as accounting rulemakers move forward with a project to change the way companies account for leases, a study showed on Tuesday.

Russian FAS under fire

The General Prosecutor’s Office of Russia has finished its planned inspection of the Federal Antimonopoly Service of the Russian Federation (FAS) and was displeased with its soft approach to violators of antimonopoly legislation. The prosecutors demand cancellation of differentiated approaches for punishment for similar violations and equal fines for identical cases of violation.

Specialized industry standards – IASB and FASB contrasted

In his address at the 26th Annual SEC and Financial Reporting Institute Conference at the University of Southern California, FASB Chairman Robert H Herz spoke about “Specialised Industry Accounting and Reporting: Too Much of a Good Thing?”

Russian CB explains how to calculate “effective” rates on credits

Last Saturday the CB issued its explanations on how effective rates should be calculated. The latest issue contains regulations with respect to 1) payments to third partied and 2) calculation of effective rates for credit cards.

Larger firms still failing on ethnic minority partners

Only two of the Big Four firms revealed the number of partners drawn from ethnic minorities for this year’s survey, with neither Deloitte nor E&Y providing figures. PricewaterhouseCoopers disclosed a figure of 2% and KPMG 4%.

Russian Deposit insurance agency proposed differential contributions

Deposit insurance agency has come with a proposal for differential contributions of Russian commercial banks to the obligatory deposit insurance fund that depends on their levels of risk. The higher the risk – the bigger will be the amount of payments. Experts say it is a way to force highly risky banks out of the obligatory deposit insurance system.

European Commission seeks input on IFRS 8 Operating Segments

The European Commission is conducting a public consultation regarding the endorsement of IFRS 8 Operating Segments before finalizing a report on the potential impact of endorsement for submission to the European Parliament in September 2007.