Новости

The law on natural persons’ bankruptcy will unlikely be approved sooner than in 2014

The Federation Council (the Upper Chamber of Russia’s parliament) held a roundtable on the draft law on natural persons’ bankruptcy.

IPSASB presents new draft practical guidance on how to report service performance information

Last Friday the International Public Sector Accounting Standards Board (IPSASB) published an exposure draft ED 54 Reporting Service Performance Information. The document is based upon deliberations of 2011. The fact of publication speaks of the Board’s ongoing work on problematic issues of public companies’ financial accountancy, including the ones related to disclosure of additional information.

SEC planning a disclosure “shakeup”

Last Friday the Securities and Exchange Commission presented a report to the Congress which was dedicated to the subject of information disclosures in public companies – informs Accounting Today. The Commission is now actively working on modernization of disclosure requirements and lowering of compliance costs in emerging companies.

“Greed light” for adoption of IFRSs in Saudi Arabia

At the moment there are absolutely no legal obstacles impeding successful convergence of international financial reporting standards and national accounting standards of Saudi Arabia. This was the conclusion of a joint conference organized by the Saudi Organization for Certified Public Accountants (SOCPA) and the Association of Chartered Certified Accountants (ACCA)

CB of Russia wants to protect banks for unjust accusations

The Central Bank wants to isolate safe and fairly playing banks from idle gossip on their possible liquidation and other facts which may do serious harm to their reputation. The CB even has plans to punish it with criminal liability.

GAAP-IFRS.COM Digest: 16-20 December

SEC further expands exemption for registration requirements for small companies

This Wednesday the Securities and Exchange Commission voted and approved publication of a new rule which should ease small companies’ access to capital.

S&P downgrades EU’s credit ratings

The European Union got a lower credit rating from probably the most conservative international credit rating agency among the “Big Three” – Standard & Poor’s. The agency put «АА+» instead of «ААА», outlook «stable». The CRA informs that its decision was dictated by general decrease of credibility of 28 member states. Experts today see worsening financial profile of the European Union.

“Big Data”: big opportunities or big risks?

The question of Big Data's influence on the world of business is today one of the most pressing for professional accountants and financiers around the globe. On that informs the report “Big data: its power and perils” which was recently published jointly by the Association of Chartered Certified Accountants and the Institute of Management Accountants (IMA).

The NOFA Foundation of Russia held a roundtable on the IFRS Conceptual Framework

The “National Organization for Financial Accounting and Reporting Standards” Foundation recently held a roundtable dedicated to changes to take place soon in the IFRS Conceptual Framework.