Новости

FFMS ready to lift restrictions on placement of Russian securities abroad

Next year Russian companies will possibly be able to place any amount of their securities abroad as Russian Depository Receipts (RDRs) - not 25% of capital at max, as it is now. As a start, the restriction may be lifted relatively to countries with which the Federal Financial Markets Service (FFMS) has information exchange agreements.

The APB issues feedback paper on auditor skepticism

The Auditing Practices Board (APB) of the FRC today issues a Feedback Paper that summarizes the comments received in response to its Discussion Paper “Auditor Skepticism: Raising the Bar” and outlines the action that the APB, and other parts of the Financial Reporting Council (FRC), intend to take: in developing this paper, the APB worked closely with the Professional Oversight Board (POB), which through its Audit Inspection Unit, monitors the conduct of audits of larger entities.

Tweedie Urges U.S. Acceptance of IFRS

International Accounting Standards Board chairman Sir David Tweedie made the case Thursday for U.S. businesses and the Securities and Exchange Commission to support International Financial Reporting Standards this year.

United States want to cancel the Jackson-Vanik amendment in respect to Russia

The US president’s administration will do its best to cancel the discriminating Jackson-Vanik amendment in respect to Russia this year and to support its entry to WTO, informed American trade representative Ron Kirk.

EU should go it alone on “Tobin tax”, European Parliament says

The European Union should tax financial transactions on its territory even if other world powers do not agree to do the same, the European Parliament said on Tuesday.

PCAOB to Discuss Auditor’s Reporting Model

The Public Company Accounting Oversight Board has scheduled an Open Meeting for Tuesday, March 22, at 9:30 a.m., for a presentation from the Office of the Chief Auditor on its outreach efforts to investors and others about potential changes to the auditor’s reporting model.

Key Business Leaders from Around the World Recommend Fundamental Changes to Business Reporting in IFAC Report

Elemental changes to the current format of financial reporting need to be made to increase its relevance and stakeholder value and stem the increasing complexity that has plagued financial reporting in recent years, according to key business leaders from around the world interviewed by the International Federation of Accountants (IFAC).

Mervyn King warned of another possible crisis in Great Britain

Head of the Bank of England Mervyn King warns that Great Britain risks finding itself in another economic crisis if fundamental reforms of its banking sector fail.

Application of IFRSs will be controlled by the FFMS

Supervision over application of international financial reporting standards in Russia will be in hands of the Federal Financial Markets Service (FFMS) – told yesterday Russia’s finance minister Alexei Kudrin. “Even when we eventually start applying those standards (IFRSs) for non-issuing companies and legal entities, we will most likely look at other countries’ experience and have this supervisory function on IFRSs application in Russia in hands of the FFMS”, he said during the conference on creation of the International financial center in Moscow.

Audit industry faces major overhaul

The business secretary has pledged to remove the need for accounts filing and audits for tens of thousands of small and medium-sized businesses. Vince Cable said under the proposals, which the government is consulting on, small companies would no longer need an audit, bringing the UK in line with EU rules. He said this will affect 42,000 businesses.