Новости

Central Securities Depository project approved in Russia

Oleg Vyugin, former chairman of the Federal Financial Markets Service (FFMS) and one of the project’s authors, is sincerely proud of it and states that it is going to seriously increase competitiveness of financial markets in Russia.

ASB offers peace deal in segments row

IFRS 8 concerns the way companies divide up their business segments for reporting purposes. A coalition of charities urged the IASB to adopt a country-by-country approach, to increase tax transparency in particular.

Deputies of the State Duma request amendments to the Internal Revenue code

90 deputies of the State Duma of Russian Federation have addressed the Constitutional court in attempt to define clearly the norms stipulated in section 252 of the Internal Revenue code of Russia that are attributed to expenses lowering the value of taxable profit.

PCAOB Wraps Up International Auditor Institute

The Public Company Accounting Oversight Board concluded its first International Auditor Regulatory Institute last week.

Experts predict increased M&A activity in Russia

For the first quarter of 2007, there were 118 registered M&A transactions with Russian companies involved, for total value exceeding $20864.7 million. In 2006, their number was 42.2% less, and the value was 4.5 times less. The results for the first quarter attribute to half of the total amount of M&A transactions for the year 2006.

PCAOB: Ernst & Young Signed Without Evidence

A report issued by the Public Company Accounting Oversight Board states that Ernst & Young LLP appears to have signed off on some public-company audits without having sufficient evidence to support its opinion.

Russian NASB sent two comment letters to IASB

The National Accounting Standards Board of Russia (NASB) sent its comment letters to the International Accounting Standards Board (IASB), one of which concerns discussion document on fair value measurements, the other one concerns IASB’s project on IFRS “First-Time Adoption of International Financial Reporting Standards. Cost of an Investment in a Subsidiary”.

IASB launches public consultation on proposed enhancements to accounting for insurance contracts

The International Accounting Standards Board (IASB) has today launched a public consultation on accounting for insurance contracts by publishing its preliminary views in a discussion paper.

Latest NASB of Russia meeting: brief results

At its latest meeting held on April 26, the National Accounting Standards Board of Russia (NASB) discussed issues related to concepts of Russian accounting standards AS 33 “Earnings per Share” and AS 36 “Impairment of Assets”, already drafted and awaiting approval. Also, draft versions of commentary letters to be sent to International Accounting Standards Board (IASB) concerning IAS 24 “Related parties disclosure. State-controlled entities” and “IFRS for SMEs” were discussed.

Three proposed International Standards on Auditing

The International Auditing and Assurance Standards Board (IAASB) has published exposure drafts of three proposed International Standards on Auditing (ISAs) for public comment.