Новости

PCAOB issues first research note on Chinese Reverse Mergers

The Public Company Accounting Oversight Board today issued its first public Research Note, which provides new data on the growth of reverse merger transactions involving companies from the China region.

FFMS of Russia publishes final draft of the law on insider information

The order contains most of the issues which fall under disclosure of information in possession of issuers’ owners and employees, management companies, stock exchanges, professional market participants, information and rating agencies.

Circulation of Visa and MasterCard won’t be restricted - Russian officials promise that

Presidential aide and economic adviser Arkady Dvorkovich informed via Twitter that the legislation to come won’t contain any provisions which would restrict use of international cards like Visa or MasterCard in Russia.

Inching closer?

The Blue Ribbon Panel on Standard-Setting for Private Companies, the 18-member group organized in 2009 by the American Institute of CPAs, the Financial Accounting Foundation and the National Association of State Boards of Accountancy, recently issued its long-awaited recommendations on private company standards, including establishing a new board to oversee and determine private standards, as well as creating a differential framework - a set of decision criteria - to facilitate a standard-setter’s ability to make appropriate, justifiable exceptions and modifications.

Agreement between IFC and the Eurasian Development Bank will simplify co-financing on developing markets

The agreement was developed by the International Finance Corporation in response to G20’s request to expand cooperation between international financial institutions to fully satisfy private sector’s demands in investments during the financial crisis.

Russia’s deputies want the uniform social tax back

An unannounced deputy of the State Duma of Russia proposed to get back the uniform social tax (section 24 of the Tax Code). The corresponding legislation project has already been presented to the State Duma for consideration.

FSA accused of outsourcing investigations

The Financial Services Authority has defended itself against accusations of outsourcing investigation activity as a record number of financial services firms are hit by enforced probes.

Audit firms wary of FRC proposals on skepticism

UK audit firms are trying to fend off a regulatory shake-up that could require them to increase the default level of skepticism that they are expected to apply to a company’s accounts. The Financial Reporting Council, the UK’s corporate reporting watchdog, will on Thursday outline the proposals following criticism of the audit industry.

British bank accounting standards “not fit for purpose”

Peter Wyman, a former partner at PricewaterhouseCoopers credited with shepherding the industry through the Enron scandal, said the standards are flawed and should be amended.

EBA improves estimates of Ukraine’s investment attractiveness

Companies-members of the European Business Association (EBA) are gradually improving their estimates of Ukraine’s investment climate. For instance, the first quarter’s results of 2011 show that the investment attractiveness index (calculated as a result of the EBA members’ survey) has increased from 3.28 to 3.4 pts.