Новости

FRC to Update the Combined Code

The revised Code will be published at the end of June, at the same time as new FSA Part 6 Rules implementing EU requirements relating to corporate governance statements and audit committees. The revised Code and new Rules will apply to accounting periods beginning on or after 29 June 2008.

Further Independence Proposals Issued by IFAC’s International Ethics Standards Board for Accountants

The International Ethics Standards Board for Accountants (IESBA), an independent standard-setting board within the International Federation of Accountants (IFAC), has issued a re-exposure draft of proposals to strengthen two areas of the independence requirements contained in the IFAC Code of Ethics for Professional Accountants (the Code).

Government wants new regulations for JSC

Managerial staff of JSC (joint-stock companies) won’t be able to decide on liquidation of companies because only companies’ shareholders will – informed representatives of Russia’s government at this Saturday’s conference “Corporate governance and globalization of the world’s economy”. The government itself is the author of amendments to the current legislation, and the main idea is to make companies’ managers put shareholders’ interests above their own interests.

US FASB and IASB Seek Views on Two Consultative Documents on the Conceptual Framework

The US Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) today published consultative documents that seek public comment on two of the eight phases of their joint project to develop an improved conceptual framework. The objective of the project is to develop an improved conceptual framework that provides a sound foundation for developing future accounting standards.

Professional Oversight Board publishes proposals for regulating audit firms from outside the European Union

The Professional Oversight Board today published detailed proposals to give practical effect in the UK to new European requirements for the regulation of the auditors of companies from outside Europe that have issued securities on regulated markets within the EU. The requirements derive from the Statutory Audit Directive, which was agreed in 2006. In the UK there are some 570 such issuers from 50 countries audited by around 150 third country audit firms.

IOSCO amends Code of Conduct for credit rating agencies

The International Organization of Securities Commissions has published amendments to the “Code of conduct fundamentals for credit rating agencies”. To remind you, IOSCO is the authority which is working hardly to eliminate all negative consequences of the world’s financial crisis. Among other things, it addresses issues which could possible cause its occurrence – and among those issues, the authority sees inefficiency of professional activity of credit rating agencies.

Audit checks of banks in Russia simplified by the CB

The Central Bank of the Russian Federation has developed step-by-step procedures for audit checks of banks in Russia.

Financial Accounting Standards Board Meets with Accounting Standards Board of Japan to Discuss Global Convergence

Representatives of the Financial Accounting Standards Board (FASB) and the Accounting Standards Board of Japan (ASBJ) gathered this week in Tokyo for a joint meeting to discuss global convergence.

New IFAC Paper Focuses on the Crucial Role of Professional Accountants in Mid-sized Enterprises

Mid-sized enterprises, compared with their small and large counterparts, face unique challenges in virtually all aspects of their businesses, including strategic management, organizational and financial structure, corporate governance, risk management and internal control, management accounting, and business reporting. Recognizing that professional accountants in business play an important role in each of these business areas, the Professional Accountants in Business (PAIB) Committee of the International Federation of Accountants (IFAC) has released a new publication entitled “The Crucial Roles of Professional Accountants in Business in Mid-Sized Enterprises”.

Customers will be protected from poor quality goods

The Federal Service on Surveillance for Consumer rights protection and human well-being (also known as “Rospotrebnadzor”) has published a new law project that will require obligatory liability insurance of producers, retailers and other parties responsible for quality of goods and services. The authority thinks that introduction of this new type of obligatory insurance will free entrepreneurs from excess regulatory administrative burden while their customers will be protected from unfair producers.