Новости

Russian NASB comments on ED “Cost of an Investment in a Subsidiary”

It appears that Russian NASB supports IASB’s proposals in full.

ASB corrects ‘conflicts’ in financial instruments reporting

The Accounting Standards Board has today issued proposed amendments for FRS 3, Reporting Financial Performance, after concerns were raised over a conflict with financial instruments reporting standards.

Use of insider information will be prohibited under the new legislation

The Federal Financial Markets Service has approved a new legislation project against insider information abuse – that’s what the FFMS’s chairman Oleg Vyugin told. Although all other ministries but the Central Bank of Russian Federation already agreed upon the project’s main provisions, its approval may take time because of the disagreement with CB.

Korea will move toward IFRSs

The Financial Supervisory Commission and the Korea Accounting Institute have announced a road map for the adoption of Korean equivalents of International Financial Reporting Standards (IFRSs). The announcement ceremony took place in Seoul on 15 March. IASB Chairman Sir David Tweedie made congratulatory remarks.

The CB of Russia may stop controlling commercial banks pretty soon

Based on recent parliamentary discussions, a new resolution project has been prepared and later presented to Sergey Ignatiev, chairman of the Bank of Russia. Inside sources from the president’s administration secretly notify that some influential officials are indeed really interested in alienation of CB from its functions to control commercial banks.

US Chamber of Commerce report addresses IFRSs, ISAs

A bipartisan Commission on the Regulation of United States Capital Markets has released its report calling for streamlining regulation of the US capital markets, ensuring the viability of the auditing profession, and improving implementation of the Sarbanes-Oxley Act, among other recommendations.

Russian Ministry of Economic Development toughens cancellation of firms and bankruptcy procedures

Russian Ministry of Economic Development prepared new amendments to the legislation for registration, cancellation of firms and bankruptcy procedures that will soon be considered by Russian government authorities.

Arthur Andersen settles with Enron investors

A Houston judge has signed a $72.5m settlement between Enron investors and Arthur Andersen, the former auditor of the collapse of the energy giant.

PricewaterhouseCoopers searched again

Last Friday representatives of the Ministry of Internal Affairs (MIA) and the General Prosecutor’s Office spent the whole day at the auditor’s office in Moscow trying to obtain additional information in respect to the “Yukos” case as well as any evidence for tax avoidance behavior possibly engaged in by PricewaterhouseCoopers.

Investors aided by little change in non-GAAP measures

Reporting of non-GAAP income measures under International Financial Reporting Standards (IFRS) remains very influenced by previous practices. This is one of the main findings from a survey of 2,800 European financial statements worldwide by PricewaterhouseCoopers.