Новости

Minfin sets “green light” for rubles abroad

The Ministry of Finance really wants to make another reserve currency out of ruble. For that, it is taking new steps to increase its use abroad - like, for instance, it is now proposing to allow ruble transfers from banking accounts in other countries to the ones in Russia and vice versa. Market participants treat this initiative with due skepticism, saying that there’s going to be some demand for rubles only in CIS-countries.

APB issues an Exposure Draft of a Revision to Practice Note 15 (I) “The audit of occupational pension schemes in Ireland”

The Auditing Practices Board (APB) has today issued for consultation an Exposure Draft of Practice Note 15 (I) (Revised). Comments are requested by 10 November 2009.

Plante & Moran Offers Liquidity Stress Test

Accounting firm Plante & Moran has introduced a “Liquidity Stress Test” tool that manufacturing businesses can use to assess their working capital needs. The tool is designed to help manufacturers to manage their cash flow requirements more effectively during the economic downturn and plan for profitability for the eventual upturn.

FSA wants to know everything about employees of foreign financial companies

Starting form August 6th, new requirements of the Financial Services Authority (FSA) are coming into force. With those in effect, FSE will carry out its control functions over financial companies, and among most important innovations are the requirements for managers and employees of foreign companies to acquire the regulator’s official approval.

FSA launches review of “dark pools” and high-speed trading

The City watchdog has launched a wide-ranging review of UK equity markets that will cover the controversial investing strategy of high-frequency trading and the use of alternative trading platforms, it emerged yesterday.

IAASB Staff Issues Q&As to Guide Auditors’ Effective Implementation of Clarified ISAs

To assist auditors worldwide in implementing the clarified International Standards on Auditing (ISAs), the staff of the International Auditing and Assurance Standards Board (IAASB) has developed a new question-and-answer publication entitled Applying ISAs Proportionately with the Size and Complexity of an Entity.

Fitch keeps Russia’s ratings as they were

The international rating agency “Fitch” confirmed Russia’s long-run credit ratings on obligations in foreign and national currency at “BBB” with a negative forecast. The agency informs that, despite all signs of economic and financial stabilization (a noticeable change since this year’s March), high risks for credibility still remain.

Minfin wants easier requirements for solvency of insurance companies

The Ministry of Finance plans to allow insurance companies to take into account subordinated credits while calculating normative standards for financial solvency. This is stipulated in the legislation project developed by the regulator. However, insurers themselves are not as happy as they should be because, like the say, it will be virtually impossible for them to attract credits under conditions proposed in the same document.

PCAOB Announces Formation of Investor Advisory Group and Seeks Nominations

The Public Company Accounting Oversight Board today announced the formation of the Investor Advisory Group to advise the Board in carrying out its responsibilities. The Board is soliciting nominations for its membership.

Order of financial rehabilitation of banks signed by Ukraine’s president

President of Ukraine Victor Yushenko signed the order on financial rehabilitation (frequently referred to as “sanation”) of commercial banks approved by the Verkhovna Rada on July 24th.