Новости

IVSC and IPEV to co-operate on valuation standard-setting

The International Valuations Standards Council (IVSC), the international standard-setter for valuations across a wide range of assets, today signed a memorandum of understanding (MoU) with the International Private Equity Valuations (IPEV) board.

Head of the Eurogroup Jean-Claude Juncker proposed 10 steps to overcome the crisis

Head of the Eurogroup Jean-Claude Juncker proposed 10 steps to overcome the debt crisis in Europe. Among other things, the step-by-step plan of the European politician provides automatic penalties for systemic violators of budgetary discipline, broader authority powers for the European Commission and dividends for the ones who participate in bank salvation programs.

Ukraine puts payment systems under tighter supervision

The National Bank of Ukraine has left itself with a right to intervene in operations of largest national and international payment systems. For violation of requirements participants of the market may face serious penalties, including imposition of certain limitations for further work in Ukraine.

CB of Russia not scared by Moody’s warnings

Recently the international rating agency Moody’s warned Russian banks of hardships to come in case “good old times” of 2008 return. Among other things, experts predicted that in many banks of Russia standards for capital adequacy would be violated in that case. And capital adequacy is serious.

PCAOB proposes amendments to improve transparency through disclosure of engagement partner and certain other participants in audits

The Public Company Accounting Oversight Board voted today to issue for public comment proposed amendments to its standards that would bring greater transparency to public company audits.

ICAI wants standard norms for internal auditing by companies

Accounting regulator Institute of Chartered Accountants of India has asked the government to standardize the internal auditing procedures adopted by domestic companies to prevent a repeat of Satyam-like frauds.

EU approved new requirements for energy market participants, further complicating Ukraine’s European integration

The European Union made a decision yesterday which will further complicate already complex process of Ukraine’s integration into European markets for electrical energy and gas. According to the rules approved yesterday, market participants will have to fully disclose information on contracts, problems and actions capable of affecting the situation on the market.

FRC announces changes to UK Corporate Governance Code and urges companies to respond rapidly

The Financial Reporting Council (FRC) today announces its decision to amend the UK Corporate Governance Code to strengthen the principle on boardroom diversity which was first introduced into the Code in June 2010.

IFAC Seeks Chair for the International Ethics Standards Board for Accountants

The International Ethics Standards Board for Accountants (IESBA) is an independent standard-setting body that develops and issues the Code of Ethics for Professional Accountants. The Code includes standards on auditor independence but is intended to apply to the actions and decisions of all professional accountants, including those in business. The structures and processes that support the operations of the IESBA are facilitated by the International Federation of Accountants (IFAC).

Consumer cooperatives in Russia will bear management responsibility for violation of financial standards

For non-compliance with financial normative standards consumer cooperatives (sometimes called “consumer credit unions”) will bear administrative liability.