Новости

Paul Cherry shared his personal opinion on the IFRS Advisory Council he used to chair not long ago

Paul Cherry, former chairman of the IFRS Advisory Council, published his personal opinion on operations and development perspectives of the body he used to lead until 31 December 2013.

Prop-trading may be prohibited in Europe

The European Union may follow the American regulatory experience and prohibit risky transactions with own funds by European banks. This practice is called “proprietary trading”. The European Commission has plans to adopt a new protection mechanism for the financial system in 2018.

Three new international standards registered for application in Russia

By its order from 24 December 2013 the Department of Justice of Russia registered for application three IFRS documents.

Russia’s Audit Council held another meeting and discussed next steps to improve audit competition. Again

On 4 January the task force group of the Audit Council of Russia held another meeting at which it discussed measures to improve competition on the audit market.

IAESB issued three education standards

The International Accounting Education Standards Board (IAESB) issued three International Education Standards this week.

IIRC and SASB will work together on integrated reporting

This week the International Integrated Reporting Council (IIRC) and the Sustainability Accounting Standards Board™ (SASB™) signed a Memorandum of Understanding which specified principles for their further cooperation and coordination of their actions. The MoU will assist both organizations in their mutual interests.

GAAP-IFRS.COM Digest: 13-17 January

IFRS Foundation issued Package 2 for IFRS Taxonomy

This week the IFRS Foundation presented a second package of electronic tags for preparation of financial accountancy under international standards (Package 2).

FRC warned against classifying pension liabilities as equity instruments

British boards of directors were warned by the Financial Reporting Council against recognition of pension liabilities as equity instruments, otherwise the Financial Reporting Review Panel (FRRP) will have to investigate all such cases.

State Duma of Russia recommended amendments to the law on consolidated accountancy for approval

Yesterday the tax and budgetary committee of the State Duma recommended for approval amendments to the law on consolidated accountancy under IFRS. Amendments to that law provide obligatory application of international financial reporting standards by new types of organizations.