Новости

IFAC SMP Committee Releases Updated ISA Guide

The implementation guide is intended to help practitioners understand and efficiently apply the Clarified International Standards on Auditing (ISAs), which are effective for audits of financial statements for periods beginning on or after December 15, 2009.

SEC Proposes Rules on “Say on Pay” and Proxy Vote Reporting

The Securities and Exchange Commission today proposed rules that would enable shareholders to cast advisory votes on executive compensation and “golden parachute” arrangements. The rules are called for by Section 951 of the Dodd-Frank Wall Street Reform and Consumer Protection Act.

Ukrainian banking regulators obliged commercial banks to present copies of audit contracts

According to the Ukraine National Bank’s new order, commercial banks in Ukraine will have to present copies of their audit contracts for audit of annual financial accountancy for the year 2010. They will have to do that before 1 November.

Russian regulators postpone introduction of 1 bn capital requirements for banks

Head of the finance ministry of Russia Alexei Kudrin postponed the initiative to increase the minimal bank capital requirements to 1 billion rubles: too much uncertainty with the global economy today, he thinks. Analysts and the Central Bank are today pretty much comfortable with how the banking sector survives.

USA commenced massive scale investigation of mortgage-related violations

All 50 American states initiated joint investigation of how mortgage creditors confiscated houses from thousands and thousands of families for non-payments on credits.

FASB Issues Accounting Standards Update No. 2010-26 “Financial Services - Insurance (Topic 944): Accounting for Costs Associated with Acquiring or Renewing Insurance Contracts”

The objective of this Update is to address diversity in practice regarding the interpretation of which costs relating to the acquisition of new or renewal insurance contracts qualify for deferral. The current definition of acquisition costs in the Master Glossary of the FASB Accounting Standards CodificationTM is “costs that vary with and are primarily related to the acquisition of insurance contracts.” Costs that meet that definition are typically recognized as assets and are commonly referred to as deferred acquisition costs.

Russian ruble’s exchange rate turned to a more flexible regime

The Central Bank’s first deputy chairman Alexei Ulyukaev informed yesterday that they had decided to switch to a more flexible regime for Russian ruble.

Russian retailers asking for amendments to the Internal Revenue Code

What they want is to write-off shop theft as expenses, as this will lower the amount of profit taxes to be paid. The Ministry of Finance doesn’t like the idea because it estimated that losses to the budget in that case would reach 30 billion rubles.

Trustees appoint Hans Hoogervorst to succeed Sir David Tweedie

The Trustees of the IFRS Foundation, the oversight body of the International Accounting Standards Board (IASB), today announced the appointment of Hans Hoogervorst as chairman and Ian Mackintosh as vice-chairman of the IASB.

The European Commission consults on how the European audit market can be improved

The European Commission has launched today a broad consultation on the role of statutory audit as well the wider environment within which audits are conducted.