Новости

FFMS amends the order of calculation of internal funds

The Federal Financial Markets Service (FFMS) has developed amendments to the order of calculation of internal funds (capital). The new methodology is expected to deal with a number of flaws, such as impossibility to account as capital cash in cash registers and “metal” accounts. Certain simplifications for stock exchanges are also expected.

Push for accounting convergence threatened by EU reform drive

The European Union’s new internal market commissioner has proposed reforms to the body that sets international accounting rules, infuriating accountants and potentially scotching fragile hopes of global convergence.

SEC Looks at Wall St. Accounting

The Securities and Exchange Commission said on Monday it had started an inquiry into about two dozen financial companies to determine whether they followed accounting practices similar to those recently disclosed in an investigation of Lehman Brothers.

Americans are looking for the ones to blame for the crisis. Again

Once again Americans are looking for the ones to be blamed for probably the greatest economic crisis since 1933. The investment banker Michael Burry accused former chief of the Federal Reserve, claiming that Alan Greenspan should have warned the world on the approaching threat.

FFMS suspects more than 100 Russian brokers

The Central Bank helps the Federal Financial Markets Service of Russia (FFMS) to discover suspicious operations of bankers. The FFMS has already frozen operations of six companies on the Bank of Russia’s tip. In total, more than 100 companies are suspected.

Europe’s IASB concerns voiced at global meeting

EC internal markets head Michel Barnier questions IASB governance, while SEC chairman Mary Schapiro also attends major accounting standards meeting.

IAASB Launches Online Questionnaire To Inform Development of Its Future Strategy

The initiative is part of the IAASB’s broader mandate to consult with key stakeholders to determine which issues should be addressed by the board.

GASB Proposes to Amend Financial Reporting Entity Requirements

The Governmental Accounting Standards Board (GASB) today issued an Exposure Draft (ED) of a proposed Statement “The Financial Reporting Entity” an amendment of GASB Statements No. 14 and No. 34. The proposed Statement is intended to improve guidance for including, presenting, and disclosing information about component units and equity interest transactions of a financial reporting entity.

CB of Russia is ready to apply criminal law for purposeful mocking of bank accounts

The Central Bank of the Russian Federation is ready – in theory - to apply criminal liability to banks if it is able to prove that they were mocking their accountancy on purpose. No one is ready to put managers into prison yet, but it is possible that they will be penalized with a fine.

Accounting firms facing rise in negligence claims amid credit crunch fallout

Leading accounting firms are facing more professional negligence claims as they are targeted by investors who lost money in the credit crunch.