Новости

APB issues Draft Revised Guidance on the Audit of Charities

The Auditing Practices Board (APB) has published a consultation draft of a revision of Practice Note (PN) 11: “The Audit of Charities in the United Kingdom”. The consultation period ends on 10 July 2008.

Even more advantages of exchange traded bonds

According to FFMS’s officials, this instrument does not interest large market participants, and in order to increase demand, they proposed to allow trading of those securities on OTC (“over-the -counter”) market and to allow including them into the Central Bank’s Lombard list (the list of securities used for REPO).

IFAC’s International Public Sector Accounting Standards Board Advances Global Convergence

The International Public Sector Accounting Standards Board (IPSASB), an independent standard-setting board of the International Federation of Accountants (IFAC), has released a technical update to International Public Sector Accounting Standard (IPSAS) 4 “The Effects of Changes in Foreign Exchange Rates”.

ASBJ and IASB hold seventh meeting aiming towards goal of convergence in accounting standards

The Accounting Standards Board of Japan (ASBJ) and the International Accounting Standards Board (IASB) have held their second meeting in Tokyo since the announcement of the initiative to accelerate convergence between Japanese generally accepted accounting principles (GAAP) and International Financial Reporting Standards (IFRSs), known as the “Tokyo Agreement” in August 2007. This was the seventh meeting between the two boards. The two day meeting was held on 8 and 9 April 2008.

CB improves mortgage financing

The Central Bank of the Russian Federation is ready to simplify financing of small and medium banking entities by issuing mortgage bonds – the CB is working on a set of amendments to its instructions.

Banking regulation for everyone

After careful consideration of remarks by the Bank of Russia, the Ministry of Finance and the Ministry for Economic Development and Trade, the Federal Financial Markets Service (FFMS) finally completed its report on “Measures to improve regulation and development of stock markets for 2008-2012 and for long-run perspective”, initially published at the beginning of March. In particular, the authority added additional proposals to the concept of “development of prudential regulation”: there are plans to make it similar to banking regulation and to add a new requirement for financial market participants so that they should calculate their capital on daily basis.

The Professional Oversight Board publishes regulations relating to transparency reporting, the UK audit register and examinations

The Professional Oversight Board today published regulations requiring auditors of public interest entities to publish on their web-sites annual transparency reports and setting the minimum requirements such reports must meet. The requirements apply in respect of any financial year of a relevant audit firm starting on or after 6 April 2008.

Mutual Fund Comparisons Using Interactive Data Now Available to Investors

Securities and Exchange Commission Chairman Christopher Cox announced the launch of a new Internet Web page that enables investors to more easily read, analyze, and compare the information provided by mutual funds related to fund cost, risk, and past performance.

Following PwC’s path

The “Big Four” auditing company “Ernst & Young Vneshaudit” received tax claims for the value of 390 million rubles, just like it was in case of “PricewaterhouseCoopers Audit”. In appears that major part of E&Y’s revenues was transferred to its Cyprus-based parent company. Claims were presented after similar claims to PwC were found reasonable. Also, in both cases, the companies were suspected in violation of licensing requirements.

IFAC’s International Public Sector Accounting Standards Board Consults on Accounting for Service Concession Arrangements

The International Public Sector Accounting Standards Board (IPSASB), an independent standard-setting board of the International Federation of Accountants (IFAC), is seeking comments on a consultation paper entitled “Accounting and Financial Reporting for Service Concession Arrangements”.