Новости

Banking secrets uncovered

Half a year ago, the U.S. Senate’s committee on investigations published a report, according to which Swiss UBS and LGT (Liechtenstein) had helped rich Americans with tax evasion. The committee found out that those Americans were able to hide 1.5 trillion USD from taxation (which means about 100 billion USD unpaid to the budget).

Russia increases requirements for banking capital

Russia’s Federation Council today approved amendments to the law “On banks and banking business” on a step-by-step increase in requirements to banking capital. Introducing the document, Gleb Fetisov (deputy chief of the FC’s committee on financial markets and currency circulation) announced that by the 1st January 2010 all banks would have to possess at least 90 million rubles as equity capital, and starting from January 2010 – 180 million rubles.

PricewaterhouseCoopers Announces $700,000 Grant to Accelerate IFRS Curriculum

PricewaterhouseCoopers LLP (PwC) today announced the awarding of $700,000 in grants to colleges to accelerate preparedness of U.S. accounting students for the anticipated adoption of International Financial Reporting Standards (IFRS). The first-of-its-kind program initially assists 26 universities and colleges across the United States in creating an IFRS curriculum in their accounting programs.

IFAC Seeks Nominations for 2010 Board and Committee Members and Three Chairs

The International Federation of Accountants (IFAC), the global organization for the accountancy profession, is seeking nominations for members of its boards and committees for 2010, including three chair positions on standard-setting boards. Five positions are designated for public members, who may be nominated by IFAC member bodies, by members of the public, or via a self-nomination. Seven positions are only open to nominations by the Forum of Firms.

Obama signs a $787-billion plan to save the economy

Yesterday the U.S. President Barack Obama signed a plan to spend $787 billion on stimulus to the economy. It is also a plan to drive it from deep recession. The White House needs at least 1 month more to start money transfer, which is why many economists say that they are a bit late with their initiatives and that positive effects will like have to wait until 2010.

S&P predicts renationalization in Russia

The international rating agency “Standard & Poor’s” published results of its research where the current situation in Russia had been compared with the one of early 90-es.

CIMA warns small businesses at greater risk from fraud in recession

Businesses across the world must step up vigilance on fraud risk in times of economic stress, according to CIMA’s “Fraud Risk Management: a guide to good practice” information released today (16 February).

Moody’s concerned with western European banks’ readiness to support their Russian branches

Moody’s Investors Service doesn’t think it is a good idea for foreign banks to provide aid to their branches in Russia and Eastern Europe in times of the financial crisis. The rating agency’s report says that a very long and deep recession has started in the region after several years of economic growth. As a result, foreign banks are facing sudden fall in profitability of their investments into businesses in Russia and Eastern Europe.

Duma plans to regulate commercial property similarly to mortgages

The State Duma of the Russian Federation has received a new law project. If approved, commercial property will be regulated similarly to mortgage property. According to Victor Pleskachevsky, chair of the Duma’s committee on property, banks will receive another instrument of refinancing – securitization of commercial property. Also, credit risks will be lowered.

Second meeting of Financial Crisis Advisory Group

The Financial Crisis Advisory Group (FCAG) was established by the IASB and US FASB in response to the recent global financial crisis. Its purpose is to advise both boards about the role of accounting during the crisis and potential changes. The FCAG held its second meeting in New York on 13 February 2009. Presented below are the preliminary and unofficial notes taken by a Deloitte observer at the meeting.