Новости

Professional standards in Russia will be applied almost by everyone

Russian business edition “Economics and Life” informs on the draft amendments to the Labor Code which were recently prepared by the Ministry of Labor and Social Security. If approved, they will adopt mandatory application of professional standards by almost all organizations including government entities.

Tax holidays may be adopted in Russia and not only for individual entrepreneurs, but there are nuances

It is possible that starting from July municipal government authorities in regions of Russia will free small, recently created businesses from taxes. The corresponding draft law was recently prepared by the Ministry of Finance. There are many unclear nuances and details, however.

Full control over bitcoins in the Internet is impossible – experts

Although the Central Bank of the Russian Federation does see cryptocurrencies as monetary surrogates which are thus forbidden in Russia and likely plans to fight with their use together with the General Procurator’s Office and the Ministry of Internal Affairs, it is unlikely that it will fully succeed with that.

CIMA and AICPA launched consultations on management accounting framework

The Chartered Institute of Management Accountants (CIMA) and the American Institute of CPAs (AICPA) have jointly launched consultations on future management accounting framework.

GAAP-IFRS.COM Digest: 3-7 February

Bitcoins forbidden in Russia

The Bank of Russia will fight against cryptocurrencies together with law enforcement authorities - if not directly, then at least against financial crimes which may be committed with their use. The corresponding decision was made upon a recent meeting of the expert group at the General Procurator’s Office.

CB will act as a founder for the financial ombudsman

The government of Russia approved the Minfin’s suggestion to make the Central Bank of Russia a founder of the so-called financial ombudsman although earlier the Bank of Russia used to refuse, referring to possible conflict of interests.

SEC increases PCAOB’s funding, although asks Doty to speed up certain long-term projects

The Securities and Exchange Commission approved a new budget for the Public Company Accounting Oversight Board – 258.4 million dollars, which is 5% more than it was before.

Minfin of Russia ready for adoption of the “Conceptual Framework”

The Ministry of Finance of the Russian Federation published a new draft order which provides adoption of the IFRS Conceptual Framework in Russia.

Hans Hoogervorst on differences between P&L and OCI

In his recent speech «Defining Profit or Loss and OCI… can it be done?» in Tokyo Hans Hoogervorst spoke a bit on differences between Profit and Loss and Other Comprehensive Income.