Новости

Russia sets limits on external borrowings by state-controlled entities

Starting from the next year, Russia will limit the amount of external borrowing by state-controlled companies. The announcement was made by the ministry’s chairperson Alexei Kudrin who was speaking on financial results of 2009.

FRC opens consultation on work plan

The UK financial reporting watchdog will consider whether it needs to continue work on developing a broader audit market for big companies, according to the Financial Reporting Council (FRC) plan of work for 2010-2011.

BAS publishes Exposure Draft of Actuarial Standard on Modelling

The FRC’s Board for Actuarial Standards (BAS) has today published a further exposure draft of its standard for actuarial modelling following the many helpful comments it received on the first draft.

Accounting: IFRS 9 and what it means for year-end reporting

Although finance directors don’t like talking about the difficulty of closing year-ends, it is certain that December was tricky and annoying in that regard. The problem falls into two categories: regulatory and business. In terms of regulation, one of the major irritations has been the uncertainty over the exact implementation of some of the International Accounting Standard Board’s (IASB) financial reporting standards.

Foreign issuers may be allowed to Ukraine’s markets

Head of the Securities and Stock Market State Commission informed that they were working on normative standards to regulate accounting of foreign securities in Ukraine. “I hope that in the nearest future any citizen of Ukraine will be allowed to purchase any international company’s securities (the ones of Microsoft, Nokia, ect.) without going abroad, without creation of a company abroad, and without opening deposit accounts in their depository institutions”, - he said.

Russian regulators do their best to ensure safety of the financial system

Russian national financial regulators have taken care of stability of almost all major players – from bankers and insurers to professional market participants.

The interview with Patricia McConnell, the IASB Board Member

Irina Kuzmina (the member of the “Institute of Certified Financial Management” (UK), professor) held an interview with Patricia McConnell, the IASB Board Member.

BAS publishes consultation on Pension and Insurance Transformations

The FRC’s Board for Actuarial Standards (BAS) has today published a consultation paper setting out proposals for a technical actuarial standard on the actuarial information required to ensure good judgements can be made about the effects of changes to pension funds and insurance contracts (transformations).

IAASB Issues New Assurance Standard on Controls at Service Organizations

This new standard addresses reports on the description, design, and operating effectiveness of controls relating to the broad range of services that today’s service organizations provide. Such services can range from assisting with processing transactions to performing one or more business functions.

NBU simplifies reorganization procedure

According to Ukraine’s law on joint-stock companies, until April 29, 2011 all banks are obliged to transform into public companies. To make the process look easier, the National Bank of Ukraine is simplifying reorganization procedures.