Новости

GASB Issues Suggested Guidelines for Voluntary Reporting of Service Efforts and Accomplishments (SEA) Performance Information

After more than two decades of extensive research and constituent outreach, the Governmental Accounting Standards Board (GASB) has issued its Suggested Guidelines for Voluntary Reporting “SEA Performance Information”. The purpose of this document is to provide state and local governments with suggested guidelines intended to provide a common framework for the effective external communication of SEA performance information.

Russia’s economy recovering fast - ACCA

Yet another quarter Global economic conditions survey report by the Association of Chartered Certified Accountants (ACCA) for the second quarter of 2010 demonstrates that Russia’s economic conditions are ether improving, or at least on their way to improvement (alas, global picture is a bit different). The survey was carried out among 2206 financial specialists (members of ACCA) from 104 countries.

Russian antimonopoly services published the “third package” of amendments to the law on competition

The Federal Antimonopoly Service of Russia (FAS) published the “third package” of amendments to the law “On protection of competition”. The main innovation here is differentiation between two separate notions – “cartel” and “coordinated actions that restrict competition”: the last one won’t bring criminal liability. Besides, FAS acquires the status of an “antimonopoly police”, which basically means that it will be able to check companies on its own.

Audit risks becoming irrelevant, warns KPMG

Failure to warn of the impending financial crisis in autumn 2008 marked a “defining moment” for the audit profession, which risks becoming irrelevant if it cannot demonstrate the value of audits in protecting the financial system, according to Bill Michael, UK head of financial services at KPMG.

PCAOB proposes new auditing standard on confirmation

The PCAOB today approved for public comment a proposed audit standard “Confirmation”. The proposed standard would strengthen the requirements under the current auditing standard, AU sec. 330 “The Confirmation Process”, which it would replace. Comments are due Sept. 13, 2010.

“Broco Investments” lost its license

Yesterday the Federal Financial Markets Service of Russia revoked the license for professional operations of “Broco Investments”. The decision was made upon results of the company’s check, which, like they say, was in its turn carried out upon claims from the Securities and Exchange Commission (SEC). However, violations made by the company are different in two regulators’ opinion.

NBU of Ukraine increases minimal regulatory capital requirements

The National Bank of Ukraine (NBU) has introduced amendments to the rules on regulation of banking business in the country, thus setting the minimal capital requirements (the “H1” normative standard) at 120 million UAH (≈15 million USD). All banks which have regulatory capital below that amount at very the moment those new regulations come into force, will have to increase it to 120 million hryvnas before 1 January 2012, or leave.

TEEB study calls for integration of biodiversity information into annual reports

The Economics of Ecosystems and Biodiversity (TEEB) study is an international initiative to draw attention to the global economic benefits of biodiversity, to highlight the growing costs of biodiversity loss and ecosystem degradation, and to draw together expertise from the fields of science, economics and policy to enable practical actions moving forward.

PCAOB issues staff audit practice alert regarding requirements when using work of other auditors or engaging outside assistants

The Public Company Accounting Oversight Board today published a Staff Audit Practice Alert prompted by observations in PCAOB inspections that some U.S.-based firms issuing audit reports based on work performed by others outside the United States are not properly applying PCAOB standards.

Accounting rules could force businesses to disclose environmental impact

Companies could be asked to publish details of their environmental and social impacts alongside their financial accounts under new rules being discussed with the organizations that set accounting standards.