Новости

Bank of Russia approves new rules for foreign currency transactions

Yesterday a new Central Bank’s order came into force which introduced new rules for transactions with foreign currency to be carried out by Russian banks. The main difference with the older requirements is that now banks will be allowed to trade with any currency they choose.

Norway, Saudi Arabia join KPMG Europe

The partners of KPMG in Norway and Saudi Arabia have joined the Big Four firm’s Europe network, bringing the total number of countries in the firm to 16.

FRC appoints Roger Marshall as Interim ASB Chairman

The Financial Reporting Council (FRC) is today pleased to announce the appointment of Roger Marshall as interim chairman of the Accounting Standards Board (ASB). Roger replaces Ian Mackintosh who was recently appointed vice-chairman designate of the International Accounting Standards Board (IASB).

EU leaders agreed upon tighter rules for financial control

At the latest summit in Brussels EU leaders agreed to tighten financial control and to introduce amendments to the Treaty of Lisbon, the document which regulates work of the European Union. Those changes will allow creation of monetary funds for financial security of the whole eurozone and helping countries in big trouble, announced chairman of the European Council Herman Van Rompuy.

Russia eased currency legislation

The government of Russia introduced a new law project to the State Duma that will allow foreigners to settle their accounts in rubles. Russians, on the contrary, will be able to open their ruble accounts abroad without currency conversion.

SEC Staff Publishes Progress Report on Work Plan for Global Accounting Standards

The Securities and Exchange Commission’s Office of the Chief Accountant and Division of Corporation Finance today published their first progress report on the Work Plan related to global accounting standards.

IAASB Addresses Compilation Engagements

The International Auditing and Assurance Standards Board (IAASB) today released for public exposure proposed International Standard on Related Services (ISRS) 4410 “Compilation Engagements”.

EU amends the Treaty of Lisbon

Leaders of member states agreed upon certain amendments to Treaty of Lisbon which may help maintaining stability of the EU economies and euro.

Banks found a loophole in Basel III

European bankers found a way to decrease the amount of obligatory reserves needed to cover risks as it is provided by the new rules of Basel III. Financial experts advise to withdraw most risky assets to special investment funds for exactly this case.

Russia insolvency legislation for banks is to be improved

The Ministry for Economic Development has prepared amendments to the law on insolvency (bankruptcy) for credit institutions to improve procedures for bankruptcy and sanation (rehabilitation) of banks in the post-crisis period.