Новости

AICPA Council Approves Creation of Forensic Credential

The governing Council of the American Institute of Certified Public Accountants authorized the creation of a new CPA specialty credential in forensic accounting.

AICPA Clarifies Audit Standards

The American Institute of CPAs outlined plans to simplify the plethora of auditing standards and eliminate any that had no clear objective.

FFMS to get tough on market manipulations

Tomorrow the State Duma of the Russian Federation will consider a new legislation project providing more strict liability for market violations, including cases of price manipulations. The Federal Financial Markets Service (FFMS) will acquire powers to carry investigations with reference to the Code of Administrative Violations and to lay fines on market participants who delayed on presentation of required information. Russian experts welcome the project, but are afraid that it may also have an adverse use.

New indicators will measure government spending in Russia

Yesterday the Accounts Chamber of the Russian Federation held a joint meeting with representatives of the International Organization of Supreme Audit Institutions. Representatives of 20 countries (including USA) participated in the meeting. In appears that the Accounts Camber’s chairman Sergei Stepashin is not satisfied with indicators currently employed in Russia: according to him, the country needs to evaluate effectiveness of its measures more than ever.

AICPA Council Votes to Recognize the International Accounting Standards Board as a Designated Standard Setter

The governing Council of the American Institute of Certified Public Accountants voted to designate the International Accounting Standards Board in London as an accounting body for purposes of establishing international financial accounting and reporting principles.

Relevance of “True and Fair” concept confirmed

The Financial Reporting Council has today published an Opinion by Martin Moore QC that confirms the continued relevance of the “true and fair” concept to the preparation and audit of financial statements following the enactment of the Companies Act 2006 and the introduction of international accounting standards.

A new “code of ethics” for tax authorities

The Federal Taxpayers Service (FTS) of the Russian Federation has sent copies of its new “Regulations of planning and holding field tax inspections” to its regional branches. With this document, the FTS intends to determine “top priority” groups of taxpayers which are bound to be visited by inspectors ASAP.

S&P sees gloomy outlook for the Russian banking system

If Russian banks massively go bankrupt, very few will get compensation from them – say experts of the international rating agency “Standard & Poor’s” in their analytical report. In addition to that, they generally treat Russia as a country which is “not friendly” to creditors if there arises a question of their compensations in case a bank is going bankrupt (individuals should not be so afraid because S&P’s conclusions are mostly for banks’ commitments to legal entities).

PCAOB Announces Roundtable Discussion Regarding Reliance Proposal

The Public Company Accounting Oversight Board will host a roundtable discussion on June 25, 2008 on a proposal regarding the circumstances in which it could rely fully on non-U.S. auditor oversight bodies in the context of inspections. Representatives of investors, registered accounting firms and foreign regulators will participate in the discussion.

ICAI to make accounting system more transparent

In a move that will bring about greater transparencies in the disclosures relating to financial instruments such as derivatives, the Institute Of Chartered Accountants Of India (ICAI) has come up with a even more detailed Accounting Standard – AS-32.