Новости

Statement from Barry Melancon, AICPA President and CEO, and Paul Stahlin, AICPA Chair, Addressing FAF’s Failure to Create an Independent Standard Setting Board for Private Company Financial Reporting

“Three thousand private company constituents and a majority of the state CPA societies, representing more than a quarter million CPAs, have spoken. They want a separate independent standard setting board and they have sent letters to FAF asking for change,” said Barry Melancon, American Institute of Certified Public Accountants president and CEO.

Moody’s commencing review of European ratings

Italy’s credit rating has been downgraded by three grades at once upon Moody’s decision, from Aa2 to A2 with a “negative” outlook. The CRA hasn’t done anything similar since 1993. Experts from Moody’s warn that too few European countries with a current rating below Aaa will be able to keep their current positions.

The Financial Reporting Review Panel invites comments on Revised Operating Procedures

The Financial Reporting Review Panel (the Panel) today published amendments to its operating procedures for public consultation. The proposed amendments do not involve any change in substance to the manner in which the Panel will conduct its enquiries.

Accounting firms grow despite economic turmoil

The world's two largest accounting and consulting firms are bulking up with acquisitions and combing the globe for new hires. Head-to-head in a race for the title of world's largest private professional services firm, Deloitte and PwC are on a major expansion drive.

Investment Entities proposals could have far-reaching impacts

In September 2011 the Australian Accounting Standards Board (AASB) issued ED 220, which incorporates International Accounting Standards Board (IASB) ED/2011/4 Investment Entities. ED/2011/4 proposes that investment entities meeting particular criteria should be required to account for investments in their controlled entities at fair value through profit or loss, rather than by consolidating them.

Goldman Sachs doesn’t believe in happy ending

One of the largest investment banks in the world Goldman Sachs lowered its expectations concerning global economy’s growth and expects more hostility on almost all markets until the end of the year (this implies markets for shares and bonds, oil and other raw materials).

Law on the central depository almost ready – NAUFOR

The law on the Central depository is “extremely” close to its completion and may be approved already this month, informed chairman of the board of the National Association of Securities Market Participants (NAUFOR) Alexei Timofeev during the meeting with western Siberian companies this Tuesday.

Financial experts remind of unsuitability of the accrual method for individual entrepreneurs

The controversial document under consideration is the financial ministry’s letter from 10 August 2011 № 03-04-05/8-558 which in some experts’ opinion contradicts the decision of the Supreme Arbitration Court from 08 October 2010.

PCAOB Publishes Staff Audit Practice Alert on Audit Risks in Certain Emerging Markets

The Public Company Accounting Oversight Board today published a Staff Audit Practice Alert to increase auditors' awareness of risks when performing audits of companies with operations in emerging markets.

Financial Accounting Foundation Seeks Comments on Plan to Improve Standard Setting for Private Companies

A new council with the authority to identify, propose and vote on specific improvements to US accounting standards for private companies is the centerpiece of a new private company plan released today for public comment by the Board of Trustees of the Financial Accounting Foundation (FAF).