Новости

The law on national payment system approved today in Russia

The Federation Council (upper chamber of Russia’s parliament) today approved the law “On the national payment system” which is aimed to regulate electronic monetary turnover and electronic payments in the country.

The Central Bank of Russia wants constant supervision over bankers’ reputation

The Central Bank of the Russian Federation will look after reputation of top bank managers not only as they are being appointed to their position, but during their future and past activity as well. Those changes give the CB of Russia additional powers to remove bank managers with doubtful reputation.

The new law on financial accountancy delayed in Russia

The State Duma’s council made a decision last week to postpone the second (which implies being the most important) reading of a long-awaited law project “On Financial Accountancy”. For how long exactly – remains unknown, the new date will be announced later.

J.P. Morgan to pay $153.6 million to settle SEC charges of misleading investors in CDO tied to U.S. housing market

The Securities and Exchange Commission today announced that J.P. Morgan Securities LLC will pay $153.6 million to settle SEC charges that it misled investors in a complex mortgage securities transaction just as the housing market was starting to plummet. Under the settlement, harmed investors will receive all of their money back.

IAESB Proposes Clarified Standard on Professional Accounting Education Entry Requirements

The revised education standard is intended to protect the public interest by both establishing fair and proportionate entry requirements - which help those individuals considering professional accounting education make appropriate career decisions - and ensuring that requirements for entry to professional accounting education are not misrepresented.

PCAOB issues concept release on auditor’s reporting model

Public Company Accounting Oversight Board today issued a concept release to discuss alternatives for changing the auditor’s reporting model. The Board also announced that it will convene a public roundtable to discuss the concept release in the third quarter of 2011.

Electronic tax accountancy in Russia

The Federal Tax Service of Russia expects that by September Russian citizens will be able to pay all of their taxes through electronic banking services, informed deputy chairman of FTS Andrei Patrushin.

Auditors’ SROs in Russia think it is necessary to delay reports on audit activity

Russian auditors are on self-regulation, but self-regulatory organizations are obliged to present special annual reports on audit activity. It appears that not all auditors are able to make it on time, which is why they are asking for a later presentation date – April 30 instead of March 31.

E&Y calls for debate on ASB two-tier framework

Ernst & Young is calling for further consultation on Accounting Standards Board (ASB) proposals for the future development of the UK Financial Reporting framework, saying there needs to be more debate about reduced disclosure.

IAS 19 may encourage pension plans to reallocate assets

Changes in rules for accounting for company pension costs (IAS 19) published on 16 June 2011 may prompt companies to review their pension plan asset allocation and investors to review the effect of pensions risk on companies.