Новости

It will become easier for Russian banks to attract foreign investors

Russian banks making IPOs will attract foreign investors’ funds much easier: for that, the Central Bank of Russia simplifies the process of conversion of financial securities into foreign depository receipts.

Switzerland is again the most competitive country in the world

Just like one year ago, Switzerland is the most competitive country in the world. This follows from the World Economic Forum’s annual rating. The leading 3 also consists of Singapore and Sweden which are on the second and the third places, respectively.

Effect analysis for IFRS 10 and IFRS 11 now available

The effect analysis for IFRS 10 “Consolidated Financial Statements”, which also includes the effect analysis for IFRS 12 “Disclosure of Interests in Other Entities”, and the effect analysis IFRS 11 “Joint Arrangements” are now available for download on the project pages.

Audit Commission outsources procurement

The Audit Commission has formally launched the process for outsourcing the work of its in-house audit practice, which is to be transferred to the private sector following its abolition.

NAPF call for reform of occupational pension accounting

Accounting standards used by companies to calculate pension assets are too focused on the short-term, undermine occupational pension provision and should be reformed, according to a report from the National Association of Pension Funds.

SEC to seek comment on review of existing regulations

The Securities and Exchange Commission today announced that it will seek public comment on a plan to conduct retrospective reviews of its existing regulations.

Swiss franc linked to euro

Swiss Central Bank abandoned the way it used to set franc’s exchange rate and liked the national currency to euro. From now on 1 euro will be equal to 1.2 francs.

Russian bankers don’t want to go to prison for falsification of financial accountancy

Bankers lobby, traditionally very strong in Russia, managed to protect its corporate interests and forced lawmakers to exclude the provision on criminal liability for falsification of financial accountancy from the draft law “On bankruptcy of credit institutions”. The Deposit insurance agency hopes to get it back before the second reading of the law.

Company annual reports deemed unreliable - but appetite for them endures

Research today reveals that only half of non-executive directors, finance directorsand fund managers believe that financial statements in public company annual reports are actually reliable indicators of performance. Yet despite these misgivings, appetite for the annual report remains strong, with the majority of fund managers (87%) and NEDs (84%) describing it as either the most important or a major element in the investment decision-making process.

Mainland and Hong Kong Accountants Sign Joint Declaration on Ongoing Convergence of Auditing Standards Globally compatible standards smooth cross-border commerce and listings

A joint declaration signed today between mainland and Hong Kong auditing standard setters promises the ongoing convergence between the mainland and Hong Kong's auditing standards.