Новости

SEC shuts down $600 million online pyramid and Ponzi scheme

The Securities and Exchange Commission today announced fraud charges and an emergency asset freeze to halt a $600 million Ponzi scheme on the verge of collapse. The emergency action assures that victims can recoup more of their money and potentially avoid devastating losses.

Russia to fight with money laundering with even more intensity

The Federal Financial Monitoring Service’s (“Rosfinmonitoring”) has handled a set of “anti-money laundering” amendments to the government for their further consideration. Those are expected to seriously complicate operations usually associated with tax evasion and currency control. At the same time, they will remarkably increase pressure on business.

AADB closes investigation into E&Y Equitable Life actuary

THE FRC's disciplinary board has closed its investigation into the conduct of an Ernst & Young actuary in connection with the audits of The Equitable Life Assurance Society.

Tax preferences in return for charity

The Ministry for Economic Development of Russia proposes to allow companies to make charitable donations not out of net profits – as they do now – but out of pre-tax ones. This may become a strong stimulus for them as their tax burden will decrease.

Britain’s on mutiny against the EU

On the latest summit in July EU leaders approved a plan for creation of a full-value economic union. With that it will, in theory, be possible to resolve the debt crisis which lasts for the third year already.

Call for public to help improve sustainability reporting on anti-corruption and greenhouse gas emissions

Sustainability reporting experts are calling on professionals and organizations to help improve the way companies report on anti-corruption and greenhouse gas emissions, by providing feedback on draft guidance before 12 November 2012.

ESMA publishes summary of responses to its consultation on materiality in financial reporting

ESMA published today a summary of responses received to its consultation paper on materiality in financial reporting. The summary provides an overview of the key issues raised by respondents in relation to the consultation paper.

PCAOB adopts Auditing Standard No. 16 “Communications with Audit Committees”, and amendments to other PCAOB standards

The standard establishes requirements that enhance the relevance and timeliness of the communications between the auditor and the audit committee, and is intended to foster constructive dialogue between the two on significant audit and financial statement matters.

How much for an audit in Russia?

The Accounts Chamber of the Russian Federation held a survey, upon which it now recommends not to set prices for one hour of audit work lower than 1400 roubles.

FASB publishes proposal for presenting items reclassified out of accumulated other comprehensive income

The Financial Accounting Standards Board (FASB) today issued for public comment a proposed Accounting Standards Update (ASU) that is intended to improve the presentation for reclassifications out of accumulated other comprehensive income in a manner that balances the benefits to users of financial statements, without imposing significant costs to preparers of financial statements. The proposed amendments would apply to all public and private organizations, but not to not-for-profit organizations. Stakeholders are asked to provide input by October 15, 2012.