Новости

Obama decided to punish largest American banks

President Obama’s administration is about to force largest banks in the US to change terms of their mortgage contracts with millions of households. That’s the step to cost about 30 billion dollars to financial institutions, but at the same time it will provide support for the housing market. It will also punish banks for numerous violations of rights of their borrowers.

Russia plans to review procedures for multinational bankruptcies

Russia’s Ministry for Economic Development wants stronger liability of separate companies inside groups of companies and for that it wants to apply national regulation to cases where Russian companies’ assets are held abroad. Corresponding amendments to the law on insolvency and bankruptcy are being prepared to regulate multinational bankruptcies.

Multi standards approach to be adopted

The Board has concluded that the new accounting standards framework should consist of two sets of accounting standards: one to be applied by entities with a for-profit objective; and the other to be applied by public benefit entities (PBEs).

Study highlights differences in bank reporting under IFRS and Basel II

A study by EDHEC Business School for the International Centre for Financial Regulation (ICFR), has highlighted differences in bank reporting under IFRS and under the Basel II regulations.

AICPA, CIMA Partner to Create International Credential

The American Institute of CPAs and the Chartered Institute of Management Accountants are teaming in a joint venture that would create an international designation for management accounting.

Central Bank of Russia wants softer requirements for participation in the deposit insurance program

The moratorium on expulsion of banks from the system, initially introduced for the period of the financial crisis and then prolonged for half a year, expires in July. But even after that, banks won’t have to worry seriously because only those with losses serious enough to affect their capital adequacy will be excluded.

Ukraine’s bank regulators ordered to disclose information in 20 largest shareholders

The National Bank of Ukraine insists that banks should provide information on their 20 largest shareholders. On that regulators told in the official letter from 14 March 2011.

Medvedev ordered to finish with adoption of IFRSs before the end of the year

Russia’s president Dmitry Medvedev ordered the government and the Central Bank to ensure adoption of international financial reporting standards (IFRSs) on the Russian territory before 30 December 2011.

EU corporate tax base moves closer

A common corporate tax base came a step close today after a system was proposed by the European Commission. The proposal for a “one-stop shop” system for filing corporate tax returns could save businesses billions of pounds by cutting red tape.

IFAC members and stakeholders invited to comment on proposed compliance program strategy

The paper highlights the vision, values, and objectives of the IFAC Compliance Program and suggests priority areas through 2014.