Новости

KPMG pulled into Madoff lawsuit

Accounting giant KPMG UK has become the latest firm to be struck with a lawsuit by the fallout of Bernard Madoff’s $65bn (£39bn) Ponzi scheme as auditor of its London-based operation.

IASB Not Waiting for FASB

International Accounting Standards Board chairman Sir David Tweedie said he won’t wait for the board’s U.S. counterpart to finalize its own revisions to fair value accounting for financial instruments.

Undisclosed Russia

The index of information transparency hasn’t changed as compared to the last year’s results – says the report polished today by Standard & Poor’s and the Center for Economic and Financial Research and Development (CEFIR). The report is based on the survey of information transparency of 90 largest public companies in Russia. At the same time, there is some constantly increasing difference in transparency between “leaders” and “outsiders”.

Banks not ready yet to sell their problematic debts to Ukraine’s government

Ukrainian banks are not ready yet to sell their problematic debt to the government with a certain discount – announced Sergei Naumov (chairman of “UkrSibBank”) in the interview to “RBC-Ukraine”.

There are no “toxic” assets on Russian banks’ balances

The CB’s first deputy chairman Alexei Ulykaev distinguishes problematic credits from derivative financial instruments.

Fair value standard will be released next month: Tweedie

International Accounting Standards Board chairman, Sir David Tweedie, said he will release a new fair value accounting rule by November.

Paul Krugman calls for nationalization of Wall Street

Once again Paul Krugman, Nobel laureate in economics and professor in Princeton University, strongly advised the White House to nationalize largest banks.

Ukrainian economy advised to switch to its national currency

Until the end of the year, Ukraine is advised to cut its dependence on dollar and switch to settlement of accounts with its national currency (UAH).

Don’t borrow from abroad

The Bank of Russia wants to destimulate foreign borrowings by residential companies and banks by amending taxation regimes for those operations.

Insurers Challenge FASB Fair Value Proposal

A trade group representing insurance and reinsurance companies has taken exception to a proposed standard on fair value accounting and said it will make financial statements harder to understand.