Новости

Russian audit market lacks universal specialists

Only 10% of all auditors in Russia (about 2 thousand) are currently able to perform audits of banks, non-government pension funds, insurers, public and private companies. There are 8 thousand such companies, and to work with their financial accountancy, auditors need a certificate. Starting from 2013 the order to acquire such certificate will be complicated further, and today analysts are already worried that the audit market will be “understaffed”.

GASB chairman Robert H. Attmore to retire in June 2013

Robert H. Attmore, chairman of the Governmental Accounting Standards Board (GASB), will retire in June 2013, the Board of Trustees of the Financial Accounting Foundation (FAF) announced today. A former auditor and deputy comptroller for New York State, Mr. Attmore has served as GASB chairman since July 2004.

IIRC showcases the business and investor journey towards Integrated Reporting

The International Integrated Reporting Council (IIRC) has marked the first anniversary of the launch of its Pilot Programme by holding a major international conference and publishing a Yearbook which showcases the business and investor journey towards Integrated Reporting.

Minfin told SROs how to teach auditors professional ethics

The Ministry of Finance has published its Recommendations to self-regulatory organizations of auditors, illustrating the way auditors should be taught professional ethics. The initiative is related to the recent approval of the new version of the Code of Professional Ethics.

Exchanges Submit Compensation Committee Plans to SEC

The New York Stock Exchange and Nasdaq have each released proposals, subject to approval by the Securities and Exchange Commission, to meet "independence" requirements set forth in the Dodd-Frank Act for compensation committees and directors who make pay decisions.

Ukrainian credit unions delay IFRS transition for 1 year

Ukraine’s government heard worries coming from credit unions and prepared a draft decision to postpone their transition to IFRSs until 1 January 2014. Participants of the market welcomed that, although they wish they didn’t have to spend money on re-education of their accountants at all.

Russian audit celebrates 25th anniversary

Yesterday audit in Russia as it is celebrated its 25th anniversary. Of course, we’re not talking about any formal celebration. It’s just the fact that on 1 October 1987 there was founded the very first audit company in Russia by the name “Inaudit”.

New IFRS for SMEs training modules

The IFRS Foundation Education Initiative has developed training modules for Section 27 “Impairment of Assets” and Section 34 “Specialized Activities” of the IFRS for SMEs.

IASB decide on targeted re-exposure of insurance contracts proposal

The International Accounting Standards Board (IASB) met on 26 September 2012 to continue its discussions on proposals for insurance contracts accounting. Although the deliberations on the project are not complete, in the interest of providing greater certainty to the market and given the late stage of the deliberations, the Board considered the need to re-expose its proposals. The Board concluded that the proposals should be re-exposed with feedback being sought only on a limited range of questions.

Russian banks threatened with the perspective of not having enough capital

The Central Bank of Russia may increase requirements for banks on creation of reserves for unsecured consumer credits. Experts predict, however, that the idea may negatively affect financial condition of retail banks.