Новости

Foreign parent companies may cut financing of their Ukrainian subsidiaries

Taking into consideration continuing decrease of crediting to the country’s population and the economy in general, foreign parent companies may decrease financial support of their subsidiaries in Ukraine – says the official announcement by “Credit Rating”.

Minfin rewrites the Internal Revenue Code, again

The Ministry of Finance of the Russian Federation has prepared a set of amendments to the Internal Revenue Code. According to the project of amendments, the procedure to acquire a deferral on tax payments awaits further simplification.

Bankers Object to Standards-Setting Process

The American Bankers Association has released a letter and white paper raising concerns over the process taken by the Financial Accounting Standards Board and the International Accounting Standards Board in their financial instruments projects.

Extractive activities – draft discussion paper

The IASB has posted on its website a working draft of a discussion paper “Extractive Activities”. The draft was prepared by a project team comprising staff of the national accounting standard-setters in Australia, Canada, Norway, and South Africa.

PCAOB Provides New and Updated Information on Inspections

The Public Company Accounting Oversight Board today published two lists: a list of registered firms that have not yet been inspected by the PCAOB, even though more than four years have passed since the end of the calendar year in which the firm first issued an audit report while registered with the Board; and an updated list of jurisdictions in which the Board has conducted inspections of registered non-U.S. firms. In addition, the Board today reported its progress on meeting its 2009 target for the inspection of certain non-U.S. firms eligible to be deferred, pursuant to a recent Board rule amendment.

Imposing limits on hryvna’s currency markup would hit Ukraine’s currency pretty hard

The National Bank of Ukraine is trying to lower influence of currency speculations on the market, which is why it is going to set a limit on the currency markup - at 2%. According to Alexander Okhrimenko from Ukrgazbank, this may lead to hryvna’s (UAH) devaluation.

Russian Financial Agency commencing business in 2010 - Minfin

The Ministry of Finance of the Russian Federation has settled all the details with the Federal Financial Markets Service (FFMS), the Central Bank and the Ministry of Economic Development to create a new organization under the government’s control – Russian Financial Agency.

KPMG Europe spreads wings to take in seven nations

KPMG Europe’s headcount is about to swell after the firm announced it would absorb seven new branches into its formal European grouping. Partners from Turkey, Russia, Ukraine, Kyrgyzstan, Kazakhstan, Armenia and Georgia have “overwhelmingly” voted to join KPMG Europe LLP.

FASB Mulls New Fair Value Disclosures

The Financial Accounting Standards Board plans to draft proposed updates to fair value accounting standards with new disclosure requirements.

BofA not allowed to settle “disagreements” with SEC

US District Court is not allowing the Bank of America (BofA) to settle its disputes with the Securities and Exchange Commission (SEC). The dispute concerns confusion of investors who were not aware of the fact that the Bank of America had paid bonuses to Merrill Lynch which it had purchased. The Court could not hear a clear response to the main question – who’s liable for investor deception; it also decided that $33 million is too little for the settlement with SEC.