Новости

Revised International Public Sector Accounting Standards Available in French

The International Public Sector Accounting Standards Board (IPSASB) of the International Federation of Accountants (IFAC) has published a French-language translation of its 2007 “Handbook of International Public Sector Accounting Pronouncements”. This edition contains translations of 24 accrual basis International Public Sector Accounting Standards (IPSASs) and the comprehensive cash basis IPSAS.

FASB Issues Statement No. 164 “Not-for-Profit Entities: Mergers and Acquisitions”

The Financial Accounting Standards Board (FASB) today issued FASB Statement No. 164 “Not-for-Profit Entities: Mergers and Acquisitions”. This Statement is effective for mergers occurring on or after December 15, 2009, and acquisitions for which the acquisition date is on or after the beginning of the first annual reporting period beginning on or after December 15, 2009.

Private companies to assist the CB with bank audits

For the first time ever the Central Bank of the Russian Federation is planning to use private audit companies’ assistance to supervise the banking industry. Auditors will check banks in accordance with a special regulatory document to be issued a bit later this year.

ASB issues Amendment to FRS 29 - Improving Financial Instrument Disclosures

The Accounting Standards Board (ASB) has today issued “Amendments to FRS 29 - Improving Disclosures about Financial Instruments”. The amendments are based on those issued by the International Accounting Standards Board (IASB) in March 2009.

SEC Votes to Propose Rule Amendments to Facilitate Rights of Shareholders to Nominate Directors

The Securities and Exchange Commission voted to propose a comprehensive series of rule amendments to facilitate the rights of shareholders to nominate directors on corporate boards.

Geithner says its time to let market forces work again

The US government’s support for American banks proved to be effective and reinforced the financial system, but today it is time to ensure proper functioning of market forces - Treasury Secretary Timothy Geithner proposed yesterday while speaking before a U.S. House of Representatives appropriations subcommittee.

Bank of Russia ready for the “second wave”

This Wednesday first deputy chair of the Central Bank of the Russian Federation Alexei Ulyukaev announced new measures to support banking liquidity. Soon credit institutions will be able to refinance at the Bank of Russia by pledging with mortgage credits and gold reserves. Experts say that the regulator’s decision is very relevant in today’s conditions (when the “second wave” of the crisis is nearing) and will additionally support liquidity of the whole banking sector.

Minfin figured out how to protect clients of insurance companies when they decide to quit

The Ministry of Finance of the Russian Federation is working on new regulations to protect clients of “unfairly playing” insurers. One of the most important innovations here is the obligatory transfer of portfolios of insurance contracts once companies show first signs of financial instability.

Professional Oversight Board Report backs review of Actuaries’ Independence Rules and Professional Quality Controls for Consulting Actuaries

The Professional Oversight Board, an operating body of the Financial Reporting Council (FRC), has today published recommendations for the UK Actuarial Profession (the Faculty of Actuaries and the Institute of Actuaries) to consider stricter independence requirements for pension scheme actuaries, and professional quality assurance requirements for consulting actuaries.

Supreme Court to Hear Case on PCAOB Constitutionality

The Supreme Court has agreed to hear a case challenging the constitutionality of the Public Company Accounting Oversight Board.