Новости

PCAOB publishes updated staff guidance related to registration process for applicants from certain non-U.S. jurisdictions

The Public Company Accounting Oversight Board today announced a staff guidance update related to the registration process for applicants from non-U.S. jurisdictions where the PCAOB is prevented from inspecting PCAOB-registered firms. The affected jurisdictions currently are the 30 European countries that are required to follow the European Union’s Directive on Statutory Auditors, China, Hong Kong, and Switzerland.

Ukraine creating a “bad bank”

Last week, the National Bank of Ukraine (NBU) filed an application to the Cabinet of Ministers, asking for money to create a “bad bank” (or the “sanation” bank, as it is called here – that is, the bank to be used for financial rehabilitation of credit institutions in trouble). Although by itself it is going to be a typical “bad bank”, the model which was frequently discussed throughout the crisis: a financial institution used to repurchase problematic credits from banks.

More euro bank losses to come

The European Central Bank (ECB) has warned that banks in the eurozone nations face having to write off another ?195bn (£164bn) in bad loans over the next 18 months.

The law on transfer pricing hides serious expenses for larger businesses

This June the State Duma’s deputies are expected to approved the law on transfer pricing in its second reading. The law project hides significant changes to taxation-related issues. In fact, the law will set new rules which will have to be followed for setting one’s price strategy.

Russia’s banking regulator wants to play not only on MICEX

The Central Bank of the Russian Federation has developed a new legislation rule to allow itself to play on several stock exchanges.

CB of Russia is more dependant than central banks of almost all Eastern European countries

If it is for the economic independence factor, the Bank of Russia falls behind almost all Eastern Europe’s counties. This was discovered by the Institute for the Economy in Transition after analysis of 26 countries’ regulators.

UK rejects EU bank rescue plan

Britain and France have both rejected EU plans forward by Michel Barnier, EU internal market commissioner, to set up national funds to help wind up or reorganize failing banks, funded by a levy on the financial sector.

New standard could lead to less risk

Corporations might take less equity and other investment risk in their defined benefit plans if an International Accounting Standards Board proposed revision on pension accounting replaces the approach under U.S. generally accepted accounting principles.

Ukraine imposing tougher requirements on CRAs

The Securities and Stock Market State Commission of Ukraine plans to introduce more severe requirements for credit rating agencies, informed the body’s chair Dmitry Tevelev. “We’re planning to review them”, - he said.

CB of Russia could have prevented the banking crisis

The Central Bank of Russia was aware of problems in banks in fall of 2008 – informed the bank’s deputy Mikhail Senatorov. However, the regulator wasn’t able to do anything about it due to the absence of sophisticated IT systems of data collection and processing.