Новости

Russia goes harsh on foreign banks

The Association of Regional Banks of Russia together with the Public Chamber of the Russian Federation and the “Expert RA” rating agency has prepared a concept of further development of the Russian financial market untill 2020.

CIMA becomes first accountancy body with Islamic finance certificate

The growing demand internationally for Islamic finance has ventured CIMA to be the first professional accountancy body globally to offer a “Certificate in Islamic Finance” that covers Islamic commercial law, Islamic banking and Takaful, Islamic capital markets and instruments and Accounting for Islamic financial institutions.

SEC Announces Successor to EDGAR Database

Securities and Exchange Commission Chairman Christopher Cox today unveiled the successor to the agency’s 1980s-era EDGAR database, which will give investors far faster and easier access to key financial information about public companies and mutual funds.

Internet for financial disclosures

The US Securities and Exchange Commission (SEC) addressed market participants with a number of ideas on electronic disclosures of financial information.

Russian FAS goes for toughening of antimonopoly legislation

A set of amendments to the existing legislation wasn’t too much warmly greeted by the meeting’s participants, but at the same time no one could say that the government is not ready to take the project into consideration. Anyway, there’s still some time left for FAS to prepare its proposals till the end of September 2008.

PCAOB Faults KPMG Audits

The Public Company Accounting Oversight Board has issued its latest inspection report on KPMG, listing deficiencies in several sample audits conducted by the firm.

Auditors seek early scrutiny

Auditors are stepping up their scrutiny of companies amid increasing worries about the potential of the credit crunch and the economic slowdown to wreak widespread damage.

Minfin will disclose auditors “too friendly” with their clients

Unannounced representatives of the ministry disclosed underlying reasons for this initiative in their interview to the “Accountancy, Taxes and Law” business edition: in fact, they were left mostly dissatisfied with results of the most recent audit companies’ checks.

Foreign investors will be forced to show their business plans

A new standard form consisting of 50 obligatory fields was developed and approved: among other things, an investor will have to disclose expected volume of his/her investments, to estimate risks and overall effectiveness of the project by showing expected amount of sales and corresponding revenues, to calculate and to show estimated payback period, etc.

SEC Announces Proposed Plan to Enhance Insider Trading Surveillance and Detection

The Securities and Exchange Commission announced that it has published for public comment an agreement among the securities self-regulatory organizations (SROs) that is designed to improve detection of insider trading across the equities markets by centralizing surveillance, investigation, and enforcement under NYSE Regulation, Inc. (NYSE Regulation) and the Financial Industry Regulatory Authority, Inc. (FINRA).