Новости

IAESB proposes revised standard on professional values, ethics, and attitudes

The revised standard, part of the IAESB’s project to improve the clarity of its standards, proposes that the development of professional values, ethics, and attitudes be addressed by learning and development activities that occur throughout the career of the professional accountant. IES 4 will be helpful to educational organizations, employers, regulators, government authorities, and other stakeholders who support the learning and development of professional accountants.

Bank of Russia chief tells the president everything about crimes committed in the banking industry

RBC-Daily acquired a copy of the letter sent by the Central Bank’s chairman Sergei Ignatiev to the Russia’s president Medvedev concerning criminal activities in the banking sector. Since 2004, only 6 out of 97 banks were brought to justice.

LIBOR suspected in forming a cartel

The US Ministry of Justice and the Securities and Exchange Commission (SEC) have initiated an investigation regarding the Bank of America, Citigroup and UBS, suspecting them in attempts to manipulate interest rates. US officials think that in 2006-2008 banks were trying to lower the LIBOR rate by providing knowingly false information on real value of debt on the interbank market.

Responses to the EU consultation on disclosure of non-financial information by companies

In November 2010, the Services of the Internal Market and Services Directorate General of the European Commission started a public consultation in order to gather stakeholders’ views on ways to improve the disclosure by enterprises of non-financial information (e.g. social and environmental).

Interview with Sir David Tweedie and Leslie Seidman regarding the timeline for completing the convergence programme

“Welcome to a podcast summary of the Joint board meeting between the IASB and the FASB in London that took place on 12-14 April 2011. My name is Mark Byatt, Director of Communications for the IFRS Foundation, and I am delighted to be joined for this podcast by David Tweedie, Chairman of the IASB and Leslie Seidman, Chairman of the FASB. Let’s begin by looking at where we are with the overall convergence project. The IASB celebrates its tenth anniversary this month while the convergence programme has been going for almost nine years. Can we start with an assessment of what has been achieved to date and what is still left to do?”.

Madoff promised even more problems to banks

Bernard Madoff assures that regulatory authorities and banks knew pretty well about his manipulations: suspicious transactions could have been easily traced with his accounts. That’s what he told in his interview to Financial Times. Serious troubles await JP Morgan, HSBC and UBS – promised the creator of the largest Ponzi scheme in modern history.

Net profits of Sberbank under RAS almost doubled

Net profits of the largest bank in Russia – Sberbank – under Russian accounting standards (RAS) have risen in 1.9 times in the first quarter of 2011 and are now 83.9 billion roubles. One year ago, for the same period January-March profits were only 43.2 million roubles.

Public audit and the great independence debate

The communities and Local Government department has called time on the Audit Commission, and the sharks are scenting blood in the water. Public audit makes up 10% of the total audit market in the UK, and whoever mops up the commission’s leftovers will need to loosen their belt a few notches.

The 21st century audit

For the nation’s auditors, the beginning of the 21st century was, unfortunately, defined by mammoth accounting frauds such as Enron, WorldCom, Qwest, Fannie Mae and Freddie Mac, and a searing lack of public confidence in the auditing process in particular and in the profession in general. That, in turn, set the table for sweeping and game-changing measures such as the Sarbanes-Oxley Act, a series of risk assessment standards and, most recently, the Dodd-Frank Financial Reform Bill.

IFRS Foundation publishes XBRL examples, SEC issues “no action” letter for US IFRS filers

These examples illustrate how the IFRS Taxonomy 2011 should be used to tag IFRS financial statements (including notes) in XBRL, and in accordance with the XBRL architecture outlined in The IFRS Taxonomy 2011 Guide and The Global Filing Manual.