Новости

ASB publishes Report on Cutting Clutter from Annual Reports

The report provides preparers of annual reports with practical aids for reducing clutter, giving ideas for how disclosures might look without the clutter, and factors to consider when planning the annual report process.

Bank of Russia criticized over quality of supervision

One of the largest Russian banks – VTB – sees problems in banking supervision. According to its presidents’ (Andrey Kostin) opinion, the regulator doesn’t fulfill its functions in full – at least, not to the extent where it is enough to lower the risk of asset withdrawal and frauds committed by top-managers.

Russian lawmakers want to protect residents from foreign Ponzi schemes

The State Duma of Russia wants to clearly define “rules of the game” for foreign financial companies which don’t have local offices or subsidiaries in Russia. Deputies commenced their work on the law project which deals with advertizing foreign professional financial intermediaries and their services. It is likely that business operations of foreign banks, investment- and insurance companies will at least require a legally regulated entity on the Russian territory.

Responses to the EU consultation on country-by-country reporting

In October 2010, the European Commission started a public consultation in order to gather stakeholders’ views on country-by-country reporting by multinational companies. Country-by-country reporting is a concept that would require multinational companies to disclose financial information on their operations in third countries in their annual financial statements.

Big Four speaks out on audit inquiry

The Big Four have responded to the House of Lords report on audit, and their reactions reveal a mixture of indignation and thirst for change.

SEC probing fraud at US-listed foreign companies

Securities regulators are probing Chinese and other foreign companies with questionable accounting practices that have used backdoor methods to access US capital markets, a top regulator said on Monday.

Cybercrime worthy $1 trillion

Every year companies around the world lose $1 trillion in electronic fraud, but it appears that they are better off with keeping the fact of unauthorized access to their systems in secret rather than with its public investigation – informs Market Watch with a reference to McAfee’s report.

NYSE Euronext attracts another potential purchaser

The system of global stock exchanges is again facing potential shake-up as NASDAQ and ICE made a joint proposal to acquire NYSE Euronext by offering 19% more than German Deutsche Boerse two months ago. NASDAQ OMX and the Intercontinental Exchange (ICE) announced their plans to buy NYSE Euronext for $11.3 billion, which is $42.5 per share.

Agencies seek public comment on risk retention proposal

Six federal agencies are seeking public comment on a proposed rule that would require sponsors of asset-backed securities (ABS) to retain at least 5 percent of the credit risk of the assets underlying the securities and would not permit sponsors to transfer or hedge that credit risk. In crafting the proposed rule, the agencies sought to ensure that the amount of credit risk retained is meaningful, while reducing the potential for the rule to negatively affect the availability and cost of credit to consumers and businesses.

AADB Issues Guidance for Prosecution Decisions Under its Accountancy Scheme

The Accountancy and Actuarial Discipline Board (AADB), an operating body of the Financial Reporting Council (FRC), today issues guidance to its Executive Counsel in respect of decisions to deliver disciplinary complaints under its Accountancy Scheme.