Новости

Russia’s government to provide major companies with guarantees for their credits

Russian government will provide guarantees for the volume 300 billion rubles for credits received by major – “strategic”, most important – entities. Deputy Minister of finance Anton Siluanov announced in his interview that this decision had been made at today’s meeting of the government.

FFMS to help CB with financing of financial market participants

The Federal Financial Markets Service (FFMS) plans to toughen control over professional market participants. For that, the regulator plans to introduce new rules of financial accounting and reporting for non-credit organizations that want to receive the Central Bank’s credits.

Global Accountancy Leaders Address Credit Crisis and Focus on Needs of Small Business

To mark the beginning of World Accountancy Week, the International Federation of Accountants (IFAC) has released the results of its 2008 Global Leadership Survey. This year’s survey sought the views of leaders of accountancy institutes worldwide on the current credit crisis and other top issues for the profession.

ASB publishes Amendment to Financial Reporting Standard 8 “Related Party Disclosures”

The Accounting Standards Board (ASB) has today issued an Amendment to Financial Reporting Standard (FRS) 8 “Related Party Disclosures”. The Amendment reflects changes to the law introduced by “The Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008” (the Regulations).

Nothing to loose

Among top-3 international rating agencies Standard & Poor’s (S&P) was the first one to lower Russia’s sovereign rating from BBB+ to BBB while keeping the same “negative” forecast. This step is explained by expectations concerning Russia’s GDP growth for the year 2009 (a decline is expected), and the budget is more likely to become deficit. Surprisingly, Russian market was anticipating something like that to happen, so the reaction was faded, while stock exchange indexes even experienced some growth.

FAS plans to control companies regardless their market shares

The Federal Antimonopoly Service (FAS) has prepared a set of amendments to the law “On protection of competition” that will allow to consider a company as “dominant” even if its market share is below 35%. For that, it would be enough to prove that the company is able to “affect terms of a good’s circulation on the market” – says the project. For instance, that entity’s ability to change prices or to restrict its competitors’ entry to the market will be a sign of it.

Trustees seek views on a broad range of constitutional issues

The Trustees of the International Accounting Standards Committee (IASC) Foundation, the body that oversees the International Accounting Standards Board (IASB), today published for public comment a discussion document on the second part of the five-yearly review of the IASC Foundation’s Constitution.

AIU Inspections: Public Reporting

The Professional Oversight Board, part of the Financial Reporting Council, has today published reports on the Audit Inspection Unit’s (AIU) inspections for 2007/8 of seven UK audit firms.

Barack Obama will recover the U.S. economy through financial restrictions

The newly elected U.S. president Barack Obama says that the economy’s recovery will become a top-priority task for the very beginning of his presidency. According to him, his task force team will continue its work on a legislation package to comprise short-term stimulus and powerful financial restrictions to make banks, CRAs, mortgage brokers and all other financial institutions more transparent and more responsible in making decisions.

PCAOB Adopts and Proposes Rule Amendments On the Timing of Certain Non-U.S. Inspections And Seeks Comment on Related Issues

The PCAOB today voted to adopt an amendment to a rule (Rule 4003) and to issue for public comment a separate proposed amendment to that rule. Both amendments relate to the timing of certain inspections of registered non-U.S. firms.