Новости

PwC defends itself from audit critics

The head of PricewaterhouseCoopers in the UK has launched a spirited defense of the "big four" accounting firms, amid calls for more competition to be injected into the auditing market.

IIRC issues Discussion Paper on Integrated Reporting, proposes a new approach to corporate reporting

The International Integrated Reporting Committee (IIRC) today released a Discussion Paper Towards Integrated Reporting – Communicating Value in the 21st Century. The IIRC seeks to bring together world leaders from the corporate, investment, accounting, securities, regulatory, academic, civil society and standard-setting sectors to develop a new approach to reporting.

EFRAG's draft comment letter on IASB Exposure Draft Mandatory Effective Date of IFRS 9

EFRAG has issued its draft comment letter to the IASB on the Exposure Draft Mandatory Effective Date of IFRS 9. The letter can be downloaded here. Comments on the letter are invited by 17 October 2011.

Minfin prepares IFRSs for adoption

The Ministry of Finance of the Russian Federation (aka “Minfin”) wants to make the process of adoption of international financial reporting standards public. Information on every separate stage of movement towards approval of international standards is already published on the Minfin’s website.

State Duma of Russia approved the third antimonopoly “package” in the first reading

The laws will amend the law on protection of competition, the Criminal Code, the Code on Administrative Violations, and several other regulations. Introducing the third “package”, head of the Federal Antimonopoly Service Igor Artemiev told the State Duma’s deputies that it was aimed at further harmonization of Russian legislation and best of global practices.

FFMS of Russia takes OTC transactions under control

Next week the Federal Financial Markets Service plans to issue a draft order which will put all over-the-counter (OTC) transactions with derivative instruments under obligatory registration. With it, the Central Bank of Russia will be able to estimate systemic risks more precisely.

E&Y on risks and business opportunities in the oil and gas industry

The main risk for business entities in the oil and gas industry is related to limited accessibility of supplies – that’s one of the main conclusions of the Ernst & Young’s recent report “Turn risks and opportunities into results”. The meaning of this risk has increased since the time when analogous report was issued in 2010.

FASB Adds Intangible Assets Project to Agenda

The Financial Accounting Standards Board has added a new project to its crowded agenda: the impairment of intangible assets with indefinite lives.

SEC Files Subpoena Enforcement Action

The Securities and Exchange Commission today filed a subpoena enforcement action against Deloitte Touche Tohmatsu CPA Ltd. for failing to produce documents related to the SEC’s investigation into possible fraud by the Shanghai-based public accounting firm’s longtime client Longtop Financial Technologies Limited.

Russian bankers shocked by new reserve requirements

Banks in Russia await new reserve requirements with fear: they will have to find where to get additional 600 billion roubles in reserves.