Новости

Britain better protects companies from hostile takeovers

The Panel on Takeovers and Mergers of Great Britain intends to help local business with protection against hostile takeovers. The proposals exposed yesterday are aimed to reduce the “tactical advantage” of any company initiating a takeover.

New Actuarial Standard on Pensions is Published

The new standard will help to ensure that trustees and sponsors of pension schemes can rely on the actuarial information supplied by their advisors, and understand its implications for their decisions.

APB publishes Exposure Draft of a revision of Practice Note 11 - The Audit of Charities in the UK

The Auditing Practices Board (APB) today issues an exposure draft of a proposed revision of Practice Note 11 “The Audit of Charities in the UK”. The consultation period ends on 21 January 2011.

Forum of Firms Issues Paper on Client Acceptance and Continuance

Asking the right questions when considering either acceptance of new, or continuance with existing, clients is a key first step for establishing a quality relationship between the auditor and client, according to a recent paper issued by the Transnational Auditors Committee, the Executive Committee of the Forum of Firms.

EU financial ministers approved conditions for regulation of investment funds

Yesterday financial ministers from 27 countries of the European Union agreed upon conditions to regulate the market for hedge funds and private investment funds.

Financial results of the bank differ from what regulators say

The very next day after announcement of the Central Bank’s chairman Sergei Ignatiev (who informed yesterday that by the end of the year the Russian banking system would reach pre-crisis profits) the second largest bank under the government control (VTB) reported 923 million rubles of losses for September.

Russian finance ministry thinking of a new tax for oil companies

Russia’s Ministry of Finance hopes to introduce a new tax for the oil industry in addition to already effective mineral extraction tax and export duties. At the same time, export duties on oil products may be increased to 85-90% of export duties on crude oil, informed the finance minister’s deputy Sergei Shatalov.

IASB and FASB consult on effective dates for convergence accounting standards

The International Accounting Standards Board (IASB) and the US Financial Accounting Standards Board (FASB) today published documents seeking views on when new financial reporting standards resulting primarily from their work to improve and achieve convergence of International Financial Reporting Standards (IFRSs) and US generally accepted accounting principles (GAAP) should become effective.

Russia and Austria to tighten control over cross-border banking transactions

The Bank of Russia, the Federal Ministry of Finance of Austria, the Austrian Financial Market Authority, and the National Bank of Austria (Oesterreichische Nationalbank) have jointly signed a memorandum of understanding concerning supervision over credit organizations.

FRC Showcases Investor Backing for Stewardship Code

A total of 68 institutions have published statements of support for the Code, including 48 asset managers, 12 asset owners and eight service providers.