Новости

Moody’s lowers Portugal’s rating from “A1” to “Aa2”

The international credit rating agency Moody’s today lowered sovereign rating of Portugal by 2 grades – from “A1” to “Aa2”; the forecast is “stable”. The agency’s analysts say that the reason for that is general worsening of the situation in the country and negative expectations concerning dynamics of Portugal’s GDP.

FFMS of Russia wants even more disclosures

The Federal Financial Markets Service wants even more transparency from issuers: companies will have to inform not only on changes of shareholders’ shares, but also on the number of controlled votes.

EU Ministers Pressured to Give More Stress Test Data

European finance ministers are under pressure to disclose more about the stress tests being conducted on banks to see whether they could withstand losses if the region’s debt crisis worsens.

PwC Wants Accounting Boards to Slow Down

PricewaterhouseCoopers said the Financial Accounting Standards Board and the International Accounting Standards Board should slow down the pace of their standard-setting work, even though the two boards have recently extended the timeline for exposing new standards to the public.

China’s happy with the decision of the USA not to call it “currency manipulator”

China’s satisfied with the decision of the USA not to call it “currency manipulator”. While commenting on the report of American finance ministry concerning currency policies of the country’s main trade partners, official Chinese media emphasized that Washington should better care more for its own, more important problems rather than look for a “scapegoat” abroad.

Germany wants “controlled bankruptcy” for the poorest member states

Euro to dollar exchange rate is steadily decreasing since Der Spiegel’s publication of the article where Germany proposes the “controlled bankruptcy” plan for EU countries with the highest level of debt. This plan may potentially lead to large losses among investors who invested their funds in federal bonds.

New FSA powers will force auditors to speak out

Bold new powers to disqualify audit partners are part of a larger push to provide an “incentive” for auditors to co-operate with regulators, a senior Financial Services Authority figure has said. The FSA is seeking new powers to censure, penalize or disqualify individual auditors after it found the profession failed to challenge management bias in the lead up to the banking crisis.

U.S. Banks Recruit Investors to Kill FASB Fair-Value Proposal

Banking lobbyists have launched an e- mail and Web campaign to mobilize investors against a proposed expansion of fair value accounting rules that may force banks such as Citigroup Inc. and Wells Fargo & Co. to write down billions of dollars of assets.

Internal audit under supervision

According to the results of the latest study of internal audit by PricewaterhouseCoopers (“2010 State of the internal audit profession study”), requirements for business functions and profession of internal auditor have increased remarkably for the last 1-1.5 years: internal audit departments have to bring more to business.

Former HBSC employees reveal client bases to authorities

Former HSBC employees made an attempt to earn money on stolen client databases, but then just handed them over to investigators. Although origins of that information were unclear, this did not impose any problems to further investigation of tax evasion cases.