Новости

Global Accounting Standard Delayed Years by Crisis, Quigley Says

The worst financial crisis since the Great Depression may have delayed adoption of a single global accounting standard “by a couple of years”, - said James Quigley, chief executive officer of Deloitte Touche Tohmatsu.

APB issues revised guidance on the Audit of Banks and Building Societies in the United Kingdom

The Auditing Practices Board (APB) of the FRC today issues a revision of Practice Note 19 “The audit of banks and building societies in the United Kingdom”. An exposure draft of the revised Practice Note was issued in July 2010 for public comment.

EU body tells accounting rule setter to slow down

A global accounting rule setter is driving too fast in drafting standards and could damage financial stability, an official at the European Union’s executive body said on Tuesday. “A new big bang is coming up and we are extremely concerned”, - Jeroen Hooijer, a senior European Commission official told an accounting conference.

Sberbank goes for ADRs

The bank plans to issue American Depository Receipts (ADRs) in maximum possible volume - up to 25% of its capital. Sberbank’s choice of precisely ADRs will give a much larger number of investors access to its securities.  

UNCTAD-IAESB Accountancy Education Forum Identifies Opportunities and Challenges in Implementing Accounting Education Programs

International accountancy, education, and Professional Accountancy Organization (PAO) leaders from over 30 nations convened on Tuesday, March 8 at the United Nations in Geneva for the “Accountancy Education Forum: Building Human Capacity and Professional Accounting Education for High-Quality Corporate Reporting”.

IASB work plan reveals revised timetable for final standards

The latest IASB work plan timetable, as of 28 March, has been released and shows revised “current best estimates” for its progress. It shows that the IASB expects to ballot on its four big projects (financial instruments, leases, revenue recognition and insurance contracts) before the end of June this year.

Turkmenistan improves its financial accounting system

During one of the recent meetings of Turkmen government the country’s president emphasized “scientific importance” and “political meaning” of timely adoption of sophisticated national accounting and reporting system in conditions of ongoing reforms in different sectors of the national economy and global trends.

СB of Russia raises reserve requirements

Regulators explain their decision by higher inflationary expectations and risks for stable economic growth. The Central Bank also wants to remind of generally unstable financial situation on global markets which may potentially influence Russia.

ASB’s accounting proposals risk multi-tiered confusion

The recent publication of two exposure drafts by the Accounting Standards Board (ASB) could lead to big changes in financial reporting and significantly reduce comparability of companies’ financial statements in the future. All but smaller companies and those already complying with the full International Financial Reporting Standards (IFRS) would be affected to varying degrees. As such, it is essential that potentially affected companies review the proposals and comment on the consultation to help shape the ultimate outcome to one that will make sense for business.

FSA sets tighter rules for auditors’ reports

The Financial Services Authority (FSA) has outlined new rules to improve the quality and consistency of auditors’ client assets reports.