Новости

Russia plans to join CLS

The Central Bank of the Russian Federation is working on the project project for Russia to join the international system of interbank accounts CLS - Continuous linked settlement, with which largest global banks trade on international currency exchange markets.

HSBC finance chief rails against US fair value rule

HSBC chief financial officer Douglas Flint has weighed into the accounting debate surrounding US’s fair value proposals, warning the new rules “will weaken the stability of the financial system”.

PwC comes under scrutiny over Yukos audits

Global audit giant, PricewaterhouseCoopers, is set to be under the scrutiny of a Moscow court today, as the former owners of the Yukos oil group make a final push to clear themselves of embezzlement charges.

Largest banks from Wall-Street scrapping proprietary trading

In reaction to new requirements of the financial system reform in the USA Goldman Sachs and JPMorgan Chase are closing their proprietary trading offices.

Barclays pays $298 million to the US government; case closed

UK’s forth largest bank “Barclays” has reached an agreement with American Ministry of Justice.

Russian companies’ implementation of IFRSs will be made gradually

Correspondingly with the law “On consolidated financial accountancy”, not so long ago approved and signed by the country’s president D. Medvedev, the Ministry of Finance prepared the project of the government’s order to endorse international financial reporting standards and interpretations in Russia.

New financial supervisory framework for Europe

On Thursday 2 September the European Parliament, the Council and the European Commission reached a political consensus on the creation of new financial supervisory framework for Europe.

PCAOB Drafts Bill to Make Disciplinary Proceedings Public

The Public Company Accounting Oversight Board has written to Congress with a draft bill that would amend the Sarbanes-Oxley Act to allow it to make its disciplinary hearings of accounting firms and auditors public.

Financial Accounting Standards Board amendments to the FASB accounting standards Codification (TM)

The proposed Accounting Standards Updates for Memorandum of Understanding (MoU) projects include a proposed guidance section that describes the requirements expected to replace relevant areas of the FASB Accounting Standards CodificationTM. Therefore, the Board decided that proposed Accounting Standards Updates for these projects will not include detailed Amendments to the Accounting Standards Codification because they are not necessary for an understanding of the proposals.

Switzerland won’t disclose any more of “bank secrecy”

Switzerland refuses to provide any more support to other countries claiming that their citizens used to hide their funds from taxation with accounts in Swiss banks if that information comes from stolen databases or other not-so-legal resources.