Новости

New independence rules for Russian auditors coming into force of 1 January 2013

The new rules for independence to be used by audit companies in Russia have been published at last.

CB of Russia will be able to open correspondent accounts of foreign central banks

The Bank of Russia will be given a right to open and process correspondent accounts of foreign central banks nominated in Russian roubles.

BBA refuses to watch over LIBOR – someone else will do it instead

The British Bankers’ Association is ready to voluntarily stop participating in determination of the London Interbank Offered Rate (LIBOR). It is possible that this responsibility will be offered to some other regulator.

FRC issues revised auditing standards to enhance communications to audit committees and auditor reporting

The FRC has, following consultation, today issued revised International Standards on Auditing (ISAs) (UK and Ireland).

FRC publishes FRRP’s Annual Report 2012

The Financial Reporting Council has today published a report of the findings of the Financial Reporting Review Panel (FRRP) in relation to its review of reports and accounts in the year to 31 March 2012.

Sir David Tweedie to lead IVSC

The IVSC has announced the appointment of Sir David Tweedie as Chairman-Elect of the International Valuation Standards Council’s Board of Trustees. Sir David will take the role as chairman on 29 October following the IVSC 2012 AGM.

Mandatory audit tendering introduced in UK governance code

FTSE 350 companies will have to explain if they fail to put their audit out to tender at least every ten years.

IAASB Continues to Address Assurance Needs of Smaller Entities; Issues Revised Standard on Review Engagements

In support of its commitment to explore standards for services that meet the unique needs of small- and medium-sized entities (SMEs), the International Auditing and Assurance Standards Board (IAASB) today released International Standard on Review Engagements (ISRE) 2400 (Revised), Engagements to Review Historical Financial Statements. ISRE 2400 (Revised) follows the release earlier in 2012 of International Standard on Related Services (ISRS) 4410 (Revised), Compilation Engagements, a standard also addressing services of particular relevance to SMEs.

So it is done

All speculations are now over: typically for Russia, despite major protest coming from many market participants, all the main regulators (the finance ministry, the Federal Financial Markets Service and the Central Bank) agreed on terms and the structure of the future regulatory body.

No evidence of "tacit coordination" among Big Four

The watchdog investigating competition issues in the UK audit market has found no evidence of collusion among the Big Four.