Новости

BDO acquires the largest audit company in Belarus

BDO, the world’s fifth largest audit network with revenues exceeding $5 billion in 2009, confirmed its decision to make the largest Belarusian company part of its international network.

European banks will see harder stress-testing

The European Commission is preparing its plan on new, more severe stress-testing for European banks. The necessity for it is related to growing concerns around the debt crisis in Europe, among other things caused by problems with two largest Irish banks which somehow managed to succeed with their stress-test this summer.

Russian companies support IFRSs in Russia

This July’s approval of the federal law “On consolidated financial accountancy” which set mandatory application of international financial reporting standards in Russia for the first time in history, was undoubtedly an important accomplishment in development of accounting practices in the Russian Federation.

The Financial Reporting Review Panel announces priorities for 2011/12

The Panel will have a particular interest in companies which operate in niche markets or which are outside the FTSE 350 because they are seen to be facing more risks in the current economic climate than larger, more diversified companies. In looking at companies which provide support services the Panel will focus on those with significant exposure to public spending cuts.

Liability issues blocking audit enhancements - ACCA

Auditors could do more to add value to their reports by extending their scope to include more forward looking information, but concerns about audit liability are holding them back from making changes, according to a report by the Association of Chartered Certified Accountants (ACCA).

Russia will fight with money laundering through stock exchanges

Russia has developed first methods to fight with money laundering through stock exchanges. Not long ago the Federal Financial Markets Service (FFMS) checked RTS (the Russian Trade Systems Stock Exchange). In response to regulators’ criticism RTS promised to develop rules for monitoring suspicious transactions and evaluation of risks incurred by involved parties.

Big Four knew government would prop up banks

The Big Four have admitted that they gave clean audit reports to banks on the basis of the knowledge that government would prop up the failing banks with taxpayers’ money.

GASB Proposes Guidance for Financial Reporting of Deferred Outflows of Resources, Deferred Inflows of Resources, and Net Position

The Governmental Accounting Standards Board (GASB) today issued its Exposure Draft (ED) “Financial Reporting of Deferred Outflows of Resources, Deferred Inflows of Resources, and Net Position”. The deadline for submitting written comments on the ED is February 25, 2011.

CB of Russia wants to oblige banks to create additional capital

The Central Bank has prepared a draft order to introduce a number of new requirements for banking capital formation. Increased requirements await transactions which bear no real economic sense. Also, increased capital requirement will be applied to transactions on financial markets and assets for which it is hard to estimate their value.

Bankers and their accountants will go to jail for falsification of accounts

The law project on criminal liability of Russian bankers and accountants for falsification of accounts will presumably come into force in 2012.