Новости

GAAP-IFRS.COM Digest: 3-7 March

Fitch expects large capital outflow from Russia as a result of military intervention to Ukraine

According to analysts from the international rating agency Fitch, capital outflow from Russia (which was already substantial even without the recent aggression in Crimea) will only increase further.

EU to increase pollution taxes

In 2016 the European Union will be able to acquire more than 35 billion euro by increasing taxes on water and air pollution. According to Tax-News, the European Commission’s survey demonstrates large potential of “green” taxes in comparison with labor taxes. As a result, this whole reform should increase employment.

IFRS for SMEs: IASB could have done more, thinks ACCA

The Association of Chartered Certified Accountants (ACCA) welcomes wide recognition of international financial reporting standards for small and medium entities around the world. “IFRS for SMEs” were first issued in 2009, and are currently being reviewed.

IFRS Foundation will cooperate closely with the IVSC on fair value measurements

The IFRS Foundation and the International Valuation Standards Council informed on their planned collaboration in the field of fair value measurements where it relates to both sets of standards – international financial reporting standards (IFRS) and international valuation standards (IVS).

CB will allow easier reorganization for non-government pension funds

The Central Bank of the Russian Federation is ready to reform the market of non-government pension funds in a quick manner. Within months all non-government pension funds will already be able to acquire an issuer status. Become joint-stock entities, that is. Anyway, even those who need more time for that will be able not to disclose their shareholders for a longer period.

Business amnesty in Russia: intermediate results

The General Prosecutor’s Office of Russia published results for the amnesty announced for economic crimes in July 2013. The GP Office informs that during this period business amnesty was applied to 2133 citizens, including 477 women and 3 minors.

KPMG still winning listed clients from its rivals in Great Britain

In Great Britain, the “Big Four” audit company KPMG still holds leadership in the new quarterly rating from Adviser Rankings. It appears that as compared to the previous report, KPMG has even increased its lead ahead of the closest follower, PwC. The latter is on the second place with minus three clients (264 listed companies at the moment). KPMG has 384.

IFRS Foundation issued annual update to IFRS Taxonomy

IFRS Taxonomy 2014 is now officially available. It is an official set of electronic tags for translation of international financial reporting standards info XBRL. The IASB says that the new Taxonomy comprises all issued standards as of 1 January 2014, even the ones which are not effective yet.

Canadian professional accountants issued a new guidance on integrated reporting

Chartered Professional Accountants of Canada (or “CPA Canada”) recently issued a new guidance for preparation of sustainability financial reporting which is positioned as a starting point for everyone planning to do that for the first time. The main focus is on key steps to be taken by reporting entities for the first time, reporting choices to be made, processes and resources to be involved.