Новости

Internal Auditing Standards under Revision

The Institute of Internal Auditors’ Internal Audit Standards Board has proposed several changes to the standards for internal auditors, including what should happen when giving an opinion on an audit, and the role of outsourced service providers.

Draft of new Actuarial Standard on Insurance is published

This new standard will aim to ensure that management and governing bodies of insurers can rely on the information supplied by their actuaries, and understand its limitations.

Audit reports “not useful enough”

Auditors’ skills remain highly respected, but audit reports are not deemed to be relevant for “providing useful information to users”, according to research by the ICAEW.

Ukrainian system of taxation is one of the world’s most burdensome – World Bank

According to the rating “Paying Taxes 2010” prepared by the World Bank and PricewaterhouseCoopers, Ukrainian entrepreneurs face the necessity to pay 147 different taxes and to spend approximately 736 hours on that each year. The country occupies 181st position out of 183, and only Belorussia and Venezuela are worse in that respect.

FFMS of Russia wants to regulate currency exchange market

The FOREX market may be seen as a subject for regulation similar to derivative instruments – thinks chairman of the Federal Financial Markets Service (FFMS) Vladimir Milovidov.

Russia will issue Eurobonds

Yesterday Russia finished its “road show” that commenced one week ago in Europe and went on to Asia. By the end of the day, there still wasn’t any official information. However, “Reuters” informs that foreign investors showed interest for Russian securities, which even exceeds 16 billion USD.

Repo 105 was no accounting gimmick: Fuld

Dick Fuld has claimed ignorance of so-called “accounting gimmicks” in a staunch defense of his stewardship of collapsed US bank Lehman Brothers.

FASB’s Valuation Resource Group meeting

The US Financial Accounting Standards Board has established a Valuation Resource Group (VRG) to provide the FASB staff with information about implementation issues regarding fair value measurements used in financial reporting.

Goldman Suchs is a “moral bankrupt”

British Prime Minister Gordon Brown has joined the fight against Goldman Suchs which is becoming a “moral bankrupt” now. In his interview to BBC he said that the Financial Services Authority should initiate a joint investigation together with American financial regulators. According to Brown, this case with the US largest bank demonstrates the necessity for further reformation of the international banking system. “I am shocked at this moral bankruptcy. This is probably one of the worst cases that we have seen”, - he said.

It’s too early for Russia to adopt progressive scale for taxation – Putin

Russian Prime Minister Vladimir Putin announced today that it was too early for Russia to adopt progressive scale for the income tax.