Новости

A bit easier to do business in Russia and Ukraine

Russia is 8 positions higher in the latest World Bank’s rating “Doing business-2013”. During the last year the country managed to climb from former 120-th position to 112th. Most likely, changes of the business climate were caused by improvements in the taxation system: if this indicator is considered, Russia gained 41 points here.

Only 10% of Russian auditors today pass the qualification exam

The latest session of “simplified” qualification exam for auditors which took place on October 11 was passed only by 10.2%. That’s an absolute record (or rather “anti-record”) in history of auditors’ certification going by the new rules.

Moscow Stock Exchange improves its indexes

The Moscow Stock Exchange (aka “MICEX-RTS”) continues to modernize its system of market indexes. Last Friday the MICEX committee made a decision to change the way they are defined: this will be done by a single formula using latest transaction prices. Market participants see this approach as more precise and convenient.

FFMS doing its best to get IPOs back to Russia

The Federal Financial Markets Service (FFMS) wants capital back on Russian markets. The regulator proposed issuers to carry out initial public offerings in Russia and in return - place as many shares abroad as they like. Market participants don’t believe in success of this initiative: what local markets lack seriously are investors, and such solutions won’t do anything about that.

PCAOB hears evidence favoring auditor rotation

Audit research experts have presented the Public Company Accounting Oversight Board with evidence they say demonstrates auditor rotation leads to better audit quality.

Deloitte releases new IFRS e-learning modules

Deloitte’s Global Audit Learning group have released three new e-learning modules on IFRS 9 “Financial Instruments: Classification and Measurement”, IFRS 10 “Consolidated Financial Statements” and IFRS 11 “Joint Arrangements”. These modules are additions to the extensive catalog of IFRS e-learning content made freely available by Deloitte.

Short way to London: Moscow Stock Exchange opening direct access for British brokers

The Moscow Stock Exchange (aka “MICEX-RTS”) is giving direct access to its trading to London-based brokers. However, according to market participants, the new service will mostly be used as a source of market statistics. As for trading itself, its perspectives are not so clear.

Government lays out narrative reporting future

The government has published draft regulations on the new structure for narrative reporting which will require UK companies to produce a strategic report. Quoted companies will be required to report, to the extent necessary for an understanding of the business, on their strategy, their business model, and any human rights issue. They will also be asked to report on the number of men and women on their boards, in executive committees and in the organisation as a whole.

IPSASB publishes consultation paper on IPSASs and government finance statistics reporting guidelines

The International Public Sector Accounting Standards Board (IPSASB) today released for comment the Consultation Paper (CP), IPSASs and Government Finance Statistics Reporting Guidelines. The Consultation Paper was developed by a task force that includes representation from both the IPSASB and the statistical community, including international organizations such as the International Monetary Fund and Eurostat, and national representatives from Brazil, the United Kingdom, South Africa, and Switzerland.

The Eurozone now has a single banking supervisor

During the latest EU summit in Brussels Germany succeeded in persuading other member states to create a single all-European system of banking supervision: European governments agreed to realize the plan in 2013.