Новости

Easier licensing procedures for business in Russia

Starting from 2 August Russian entrepreneurs will be able to apply for licenses for different kinds of business activity in electronic format. According to analysts, this may remarkably simplify business registration and – possibly – will lower the amount of fees paid for that type of government services.

Moscow Stock Exchange adopting easier rules for listing

The Moscow Stock Exchange (formerly known as “MICEX-RTS”) wants to simplify the system of listing of financial securities by decreasing the number of quotation lists. The proposal was disclosed to market participants. Experts agree that with that it will be possible to increase interest of investors, but anyway - this won’t happen soon because it won’t be possible to change the normative basis fast.

Four steps to formalize internal audit’s strategic impact

Internal audit isn’t just about compliance anymore. Increasingly, the function’s role is being incorporated into the broader business strategy – from mulling over major capital projects to advising on mergers and acquisitions. But executives say they need to do a better job of formally describing the role internal auditors will play in charting the course of the business.

PCAOB issues release concerning its inspection process

Provides approaches an audit committee might consider for initiating or enhancing inspection-related discussions with an audit firm.

Sustainability information important to investors and analysts

​New research reveals that investors and analysts use “extra-financial” information to analyze companies. Investors and analysts use extra-financial information reported by companies to help analyze the performance of those companies and ultimately inform investment decisions, according to new research published by GRI, HRH The Prince of Wales’s Accounting for Sustainability Project (A4S) and Radley Yeldar on Tuesday 24 July.

ECB and Federal Reserve leave investors disappointed

The latest meeting of the US Federal Reserve this Wednesday ended with nothing in particular: once again, promises were made that the financial regulator is ready to intervene any moment the situation starts getting out of hands. It is not that investors were so much interested in the Fed’s announcement anyway because all of their attention was focused on yesterday’s press-conference of the European Central Bank’s chief Mario Draghi.

NYSE experienced a massive IT failure

More than 150 companies recently suffered from a massive technical failure at the New York Stock Exchange. The brokerage company Knight Capital Group Inc. took all the guilt on itself. They say that what happened is another example of what computers may possibly do on the financial market.

Russian banks will be tested for possible monopolistic behavior

The Federal Antimonopoly Service of the Russian Federation (FAS) will work to discover monopolists among credit institutions by surveying their clients – private individuals and companies. It will also analyze banking contracts. First of all, the new CB’s initiative will affect large banks with ramified retails networks – for example, Sberbank and VTB24.

Central Bank of Russia receives back its “emergency powers”

The Central Bank will again be able to restrict interest rates on deposits. Such powers were in possession of the banking regulator during the financial crisis of 2008-2010.

The GASB’s New Pension Standards Are Now Available

The Governmental Accounting Standards Board (GASB) today published standards intended to improve the accounting and financial reporting of public employee pensions by state and local governments. The two pronouncements, which were approved on June 25, are available to download at no charge on the GASB website.