Новости

CB of Russia looking after currency risks

The Bank of Russia is now attending the problem of foreign currency risks, in which it has only been pretending to be interested until now. Today, the regulator is sending request letters to major players of the market, asking them to clarify how exactly they are insuring their risks on foreign currency operations.

APB issues a revision to Practice Note 15 (I) “The Audit of Occupational Pension Schemes in Ireland”

The Practice Note updates the current guidance, which was issued in December 2005, for changes in the regulatory environment for pensions in Ireland including the Occupational Pensions Schemes (Disclosure of Information) Regulations 2006.

Trustees announce further governance enhancements

The Trustees of the International Accounting Standards Committee (IASC) Foundation, the oversight body of the International Accounting Standards Board (IASB), today announced enhancements to their governance arrangements. These changes, which are aimed at enhancing public accountability, stakeholder engagement and operational effectiveness, complete the second part of the IASC Foundation’s five-yearly Constitution Review.

Senator Proposes Alternative Bill to Tax Bonuses

Sen. Sherrod Brown, D-Ohio, has introduced a bill that would tax more Wall Street bonuses than similar legislation introduced a week ago.

European insurers recovering easier than banks - E&Y

European insurance companies are recovering from the financial crisis with fewer losses than banks – states the overview of European insurance sector in 2010 by Ernst & Young’s international department for insurance-related services.

Another mortgage crisis approaches USA

The USA awaits another wave of defaults on mortgage credits, but this time it is not housing, but commercial real estate.

Russian bankers proposed to reveal “bad” assets

The Association of Russian Banks (ARB) warns that the “bad asset” problem may destabilize the whole banking system, which is why it has to be recapitalized more than twice, up to 3 trillion rubles.

PwC offers “fair access” route into firm

The UK’s largest accountancy firm has said it will offer an entry route for employees that will assess beyond academic ability.

Deloitte chief urges banks to separate loss accounts

Banks should account for their losses in two radically different ways to satisfy the opposing demands of regulators, politicians and accountants, says the global head of one of the world’s biggest accounting firms.

Auditors will have less work to do

Starting from this year’s January, regulation of audit services from the government’s side is no longer in effect. Instead, obligations to control it are now borne by self-regulatory organizations (SROs) that comprise only half of practicing auditors at the moment. Legal regulation of the industry isn’t over, though. The Ministry of Finance proposes to free companies with an annual turnover below 400 million rubles from the procedure of obligatory audit of their financial accountancy. This will surely cut demand for professional audit services in Russia.