Новости

PCAOB enters an agreement with Swedish regulators

The Public Company Accounting Oversight Board (PCAOB) has entered an agreement with the Supervisory Board of Public Accountants of Sweden to exercise joint control over audit companies which inspect firms listed on American stock exchanges.

Banks in Russia will have to check authenticity of their client’s IDs

The Central Bank of Russia wants to oblige banks to check authenticity of their clients’ passports. This is done as part of the general anti-money laundering course of the government.

The bank “Russia” is closing accounts in all foreign banks and switching to roubles

An “iron curtain” was dropped by the bank “Russia” which had recently suffered from Visa’s and Mastercard’s decisions as a result of imposed sanctions. The bank “Russia” doesn’t want to deal with foreign currency at all and is now switching to rouble-only settlement of payments.

EFRAG fears violation of the IAS 1 principle in IAS 28

A reviewed standard IAS 28 “Investments in Associates” will soon be published by the IASB. With the new publication approaching the European Financial Reporting Advisory Groups (EFRAG) is sending a letter to the international standard setter, wishing to draw its attention to certain contradictions with IAS 1 where it deals with deferred recognition of losses.

Capital withdrawal will be made harder in Russia

It will become harder to withdraw capital from Russia. The Ministry of Finance wants to increase the maximum term to bring responsible parties to responsibility for breaking currency legislation from 1 to 3 years.

Small business in Russia may lose simplified taxation

Deputies of Russia approved a draft law without preliminary consultations with business and general public.

Problems with EPSASs still remain

The European Federation of Accountants (Fédération des Experts-comptables Européens, FEE) has published another consultation paper on problems with adoption of international standards for entities of the European public sector.

USA keeping Russia away from FATCA

It looks like the US government is disrupting negotiations on Russia’s possible joining the system of tax information exchange as it is provided by the Foreign Account Tax Compliance Act (FATCA). It is quite possible that the USA is punishing Russia, imposing “informal” sanctions for its aggression in Crimea.

GAAP-IFRS.COM Digest: 24-28 March

FRC examines investors’ perception of intangible assets in IFRS

The Financial Reporting Council (FRC) of Great Britain published research results of its Accounting and Reporting Policy (ARP) work group. Experts analyzed perception of intangibles in the IFRS system of standards.