Новости

Russian lawmakers adopting a new notion of “taxpayers’ good faith”

Deputies of the State Duma of Russia are proposing a new notion from arbitration practices for adoption to the Tax Code. This one deals with taxpayers’ “good faith” (or “consciousness”) in tax minimization.

What does strong compliance mean? - SEC

In his keynote speech during the last week’s conference Compliance Week 2014 head of the SEC enforcement department Andrew Ceresney shared his ideas of what should developed compliance function look like

Fewer auditors on the Russian market for audit services

The Minfin’s recent report on activity of self-regulatory organizations of auditors in 2013 is worthy attention at least for the fact that it clearly demonstrates decreasing number of auditors on the market in 2013.

IFRS 15 coming up tomorrow

The International Accounting Standards Board informed that tomorrow it was going to present its new standard IFRS 15 “Revenue from contracts with customers”.

Russian retailers will be fined for rejecting plastic cards as means of payment

The Federal Service on Customers' Rights Protection and Human Well-being Surveillance of Russia (aka “Rospotrebnadzor”) is planning to adopt fines for shops and stores from the beginning of 2015 for refusal to accept plastic cards to process payments.

ASBJ – first discussion paper on OCI

The Accounting Standards Board of Japan (ASBJ) has published a very first paper in a series planned for publication. The first issue is titled “Is OCI Unnecessary?” It is aimed to facilitate global discussion around financial reporting standards.

IFRSs are crucial for Japanese companies’ success

Head of the IASB Takatsugu Ochi presented a small publication in «Nikkei Asian Review», arguing that Japan would surely win from adoption of international financial reporting standards.

Visa and MasterCard found a compromise with Russian regulators and are going to stay

International payment systems Visa and MasterCard reached an agreement with Russian regulators. The compromise they found allows them to continue their operations in Russia despite the harsh requirement on guarantee reserves.

GAAP-IFRS.COM Digest: 19-23 May

Real rates on deposits will have to be disclosed by banks starting from 1 June

Starting from 1 June banks in Russia will have to disclose real rates on deposits, publishing them on their official websites or websites of news agencies. For example, the information on rates proposed in May will be available by 10 June.