Новости

The Central Bank of Russia offers new opportunities for refinancing

The Bank of Russia plans to offer new opportunities for refinancing of banks. It is assumed that the regulator will offer loans secured on credits which either have the government’s guarantees or were issued to municipal (public) entities of Russia. The CB also plans to allow refinancing based on second-quality loans. All those innovations will primarily affect state-controlled banks. However, general improvement of the liquidity situation will have its positive influence on the banking system of Russia as a whole.

APB issues a Consultation Paper and Exposure Draft of a Revision to Practice Note 26 “Guidance on Smaller Entity Audit Documentation”

APB first issued Practice Note 26 in September 2007 to provide guidance and illustrative examples on how the documentation requirements contained within ISAs (UK and Ireland) can be applied to smaller entity audits.

ICAS welcomes EC directives delay

A European Commission decision to delay changes to its accounting directives will mean more considered regulation for small and medium sized businesses, says ICAS. The move by the EC follows calls by the Scottish institute to consider the implications of the recently issued International Financial Reporting Standard on SMEs before issuing directives on EU financial reporting.

S&P reviewed Ukraine’s sovereign credit ratings from “negative” to “positive”

The international credit rating agency “Standard & Poor’s” changed its forecast on Ukraine’s sovereign rating from “negative” to “positive”, at the same time keeping long- and short-run credit ratings as they were: “CCC+/С” for foreign currency obligations and “В-/С” for obligations nominated in national currency. Besides, the national-scale rating is confirmed at the same level as before – “uaBBB”.

Minfin proposed to oblige banks to inform tax and customs services on foreign currency operations of their clients

Today, tax and customs officers are not able to perform currency supervision like they should because they seriously lack information that may be potentially obtained from banks.

PCAOB Adopts New Auditing Standard On Engagement Quality Review And Issues Concept Release on Requiring the Engagement Partner to Sign the Audit Report

The Public Company Accounting Oversight Board today voted to adopt Auditing Standard No. 7 “Engagement Quality Review (EQR)” and to issue a Concept Release on requiring the engagement partner to sign the audit report.

European audit exemption thresholds rise

Increases in European audit exemption thresholds over the past few years have exacerbated the need for alternative services for SMEs. And this trend is set to continue in the near future, says the Federation of European Accountants (FEE).

Britain commencing tax amnesty for holder of offshore banking accounts

British government announced six-month tax amnesty for those who own offshore banking accounts and doesn’t pay taxes on those funds. The official announcement by HMRC was published today in London.

Merging of MICEX and RTS still possible – V. Milovidov

RTS and MICEX are Russia’s largest stock exchanges, and if united, this would stimulate liquidity and transparency of the market.

Financial Crisis Advisory Group publishes wide-ranging review of standard-setting activities following the global financial crisis

The Financial Crisis Advisory Group (FCAG), a high level group of recognized leaders with broad experience in international financial markets, today published its recommendations related to accounting standard-setting activities, and other changes to the international regulatory environment following the global financial crisis.