Новости

Bankers insist that anonymous money transfers should not be restricted

Bankers in Russia heavilty criticize the draft law on limitations for anonymous money transfers. We remind that the draft version of corresponding amendments provide a limit of 1 thousand roubles per one day and of 15 thousand roubles per month. Participants of the market think that it will be incorrect to vote for the law as it is proposed today.

Personal information on top-managers of banks in Russia will be made public

Deputy chairman of the State Duma’s financial markets committee Dmitry Saveliev proposed amendments to the federal law “On banks and banking” which in case of their approval will oblige top-manages of credit institutions to disclose their personal information, including family kinship.

FASB finished PIR of fair value standards

In 2006 a new standard, Statement No. 157 “Fair Value Measurements” was adopted in US GAAP. After the post-implementation review of codified standards on fair value measurement and reporting the Financial Accounting Standard Board concluded that they fit their main purposes well.

PAIB issues draft guidance on supplementary financial measures

The Professional Accountants in Business (PAIBs) committee of the International Federation of Accountants yesterday proposed a new international guidance Developing and Reporting Supplementary Financial Measures. By doing so international developers are trying to introduce a new benchmark for application of supplementary financial measures by accountants which should help users of financial statements (investors, managers and other) to understand real financial position of any company more easily.

CCAB study indicates high demand for separate accounting standards for non-commercial entities

The Consultative Committee of Accountancy Bodies (CCAB) of Great Britain performed a study which showed high demand for a unique system of international high-quality standards for non-for-profit entities. The study was initiated in November 2013 – first in a row of studies which will take a form of academic literature review and surveys

US Treasury will watch after Yanukovych’s funds

The US Treasury ordered banks to look after possible movement of funds of Ukraine’s fugitive ex-president and his henchmen

Finance ministry of Russia will investigate administrative violations of auditors

By the Russian government’s decision from 17 February additional functions were added to the Minfin’s list. From now on it will also be responsible for processing of administrative violations committed by self-regulatory organizations of auditors.

SASB issues second set of sustainability standards

The non-commercial organization Sustainability Accounting Standards Board (SASB) yesterday issued a new set of standards for financial entities which will have to disclose information by the standard SEC’s Form 10-K.

IFRS Foundation under pressure because of its disclosure problems

It appears that the body directly responsible for development of standards for disclosure of financial information has far not flawless disclosures itself. At least that’s what the Companies House of Great Britain concluded upon results of investigation of the IASB’s history of disclosures.

FASB approved alternative approach for private companies’ lease agreements with participation of VIEs

Last week the Financial Accounting Standards Board (FASB) officially approved an alternative accounting approach for lease agreements by private companies which had earlier been proposed by the Private Company Council (PCC). They now are not obliged to consolidate variable-interest entities in common-control agreements.