Новости

NBU to force banks to form valuation reserves on credit risks

The National Bank of Ukraine has developed a project of its new order on formation of valuation reserves for credit risks. Among other things, banks will be obliged to calculate and to form reserves for acquired liabilities independently from how much they receive in revenues.

The number of loss-making banks in the Deposit Insurance System increases

If it wasn’t for the Central Bank’s moratorium, almost 50 banks in Russia could have been banned from attracting private deposits due to their violation of profitability indicators. According to the regulator’s forecast, in the next quarter the number of such banks may increase even further.

Grant Thornton loses FSA audit contract

Grant Thornton is to lose its audit of the City watchdog, as government proposals to force the Financial Services Authority to switch its auditor to the National Audit Office come into play.

Financial Accounting Foundation to Maintain XBRL Taxonomy for U.S. GAAP

The Financial Accounting Foundation (FAF) today announced its new responsibility for the ongoing maintenance of the U.S. GAAP Financial Reporting Taxonomy applicable to public issuers registered with the U.S. Securities and Exchange Commission (SEC).

Geithner defends US rating

US minister of finance Timothy Geithner defends the country’s sovereign rating, being absolutely sure that it won’t be lowered from its current highest “Aaa” level.

S&P’s sees very low probability of Ukraine’s default

Even in conditions like that, the “inevitable” default is still too far away.

Progress on PCAOB international inspections

The Public Company Accounting Oversight Board (PCAOB) today released new and updated information about the status of inspections of registered non-U.S. accounting firms.

Only one Big Four firm produces UK annual report

Should the UK’s biggest firms set an example to their clients by producing a UK-focused annual report? The question arises after Deloitte said it will no longer produce a UK report. Instead the Big Four firm will focus on its audit transparency report and corporate social responsibility document, as well as flag up UK performance in Deloitte’s global annual report.

Research Paper on the proposed new Definition of an Asset

The European Financial Reporting Advisory Group (EFRAG) and the Autorite des Normes Comptables (ANC) have jointly published on their websites for information purpose a Research Paper prepared by the staff on the proposed new Definition of an Asset tentatively adopted by the IASB and FASB.

Moody’s warns on lowering of the USA rating

The international credit rating agency “Moody’s Investors Service” informed this Wednesday that today’s rating of the US government bonds (“AAA”) will be lowered if the economy doesn’t start to recover faster, and if no steps to decrease the country’s huge budget deficit are taken.