Новости

COSO finalizes new internal control framework

COSO has published the final version of its newly revised internal control framework, along with two additional resources, which should set public companies in motion to fully review their internal controls to assure they reflect the latest guidance.

IFRS Foundation publishes updated briefing for chief executives

The IFRS Foundation Education Initiative has published the 2013 edition of International Financial Reporting Standards — A Briefing for Chief Executives, Audit Committees and Boards of Directors.

The Vatican Bank to make its balance public at the end of the year

The Vatican Bank (officially known as the Institute for Religious Works - IOR) will publish is balance sheet and launch a website at the end of 2013, informed the KAI with a reference to the bank’s chairman Ernst von Freyberg who is in charge since 15 February. Until now information on the Vatican Bank’s financial situation was only disclosed to a very narrow circle of entrusted parties.

The Accounts Chamber of Russia proposed an “offshore” tax

The Accounts Chamber of the Russian Federation addressed deputies of the State Duma, asking them to think of a new “offshore” tax to be levied on all external trade operations with participation of companies in offshore jurisdictions. If it is so, signing contracts with the only reason to evade taxes won’t be economically feasible anymore – authors of the draft law think.

Minfin found a way to attract interest to Eurobonds

Russia’s finance minister Anton Siluanov proposed not to collect taxes from interest paid on Eurobonds from Russian issuers. To remind you, not so long ago it was proposed to free those securities from taxes if they were issued before 1 January 2014. All issues starting from that date were supposed to be taxed in respect of interest income.

Russian financial supervision services publish conclusions on auditors’ very first inspections

The Federal Service of Financial and Budgetary Oversight (aka “Rosfinnadzor”) published its first conclusions based on results of very first inspections of audit companies (their regular external checking is provided by the federal law “On auditing activity”).

Bloomberg lost 10 thousand private messages of its clients

Speaking of IT security, again. Bloomberg allowed a massive information leakage of 10 thousand private messages of its users. Until recently they could be easily found in the Internet with plain Google. Not long ago experts on financial markets and Financial Times started to investigate what was going on.

IT security in Russia

In Russia, protection of corporate information is really a problematic issue. Technical restrictions and obligations aren’t serious enough to prevent massive leakages of information caused by employees.

Russia may force state companies to review their dividend policy

Starting from 2014 Russian companies under the government control may be forced to spend 35% of their net profits as dividends. The idea belongs to the Ministry of Finance which says that this should increase revenues to the budget.

ASB exposes clarified auditing standard on internal audit

The Auditing Standards Board (ASB) has exposed a new, clarified standard that applies to use of the work of internal auditors.