Новости

UK’s each fourth stock transaction falls under suspicion

Brirish Financial Service Authority (FSA) states that each fourth mergers and acquisitions (M&A) transaction is accompanied by a suspicious “noise”. Experts say that, despite the regulator’s efforts, the insider information still persists, and the situation is getting worse with each year passed.

End in sight for dual inspections of audit firms

Dual inspections of audit firms by US and European oversight bodies may be dropped if the regulators agree on a “roadmap” for collaboration.

States Seek Improved CPA Interstate Mobility

Several states are seeking to change state law to allow for individual CPAs licensed in other states with substantially equivalent licensing requirements to provide client services in person, by mail or electronically without securing an additional license or temporary registration, reports the Ohio e-CPA Weekly.

Goodbye GAAP? U.S. considers move to international accounting

U.S. generally accepted accounting principles could be tossed aside for international financial reporting standards, or IFRS, for non-U.S. firms in U.S. markets under a plan being mulled by the Securities and Exchange Commission.

Russian banking secrets no more

Commercial secrets may soon become nothing for Russian commercial banks because auditors will not have to keep it secret. Moreover, they will be forced to disclose commercial information to the Central Bank of Russia on demand. The legislation project that by its nature disrupts the notion of auditing secrecy is already sent to the Ministry of Finance for consideration.

Grant Thornton ‘06 Revenues Up 18 Percent

Grant Thornton LLP, the U.S. member firm of Grant Thornton International, reported that its revenues for the 2006 calendar year were up 18.2, to $940 million.

National Accounting Standards Board of Russia (NASB) February meeting: brief results

On 22nd of February National Accounting Standards Board of Russia (NASB) held a meeting, at which two concepts of projected national accounting standards of Russia were discussed – AS 36 “Impairment of assets” and AS 107 “Financial instruments: disclosure”.

IFAC Board Drafts Rules for Audit of Related Parties

The International Auditing and Assurance Standards Board said that it decided to review the auditing standard, ISA 550, “Related Parties,” after a number of related parties were involved in major corporate scandals. Following earlier consultations, the board decided to re-expose its proposal because of the significance of the changes made in response to the consultations.

Russian Federal Tax Service fights again

Russian regulatory authority, the Federal Tax Service (FTS), has declared war to loss making companies. If a company suffers losses for more than three years in a row, their managers will have to explain the reasons for that during the hearings held by FTS’s special commission. FTS already held several thousand of such questionings.

Corporates face EU reporting millstone

Companies will have to produce interim management statements between their interim and final results under new rules, as well as comply with a burdensome standard on estimates in their interim results