Новости

Yet another tightening of banking regulation in Russia

Today the CB of Russia came with another proposition suggesting to limit the max value of additional banking fees on loans given at 3 to 5%.

E&Y faces grilling over Equitable Life

Ernst & Young will appear before a Joint Disciplinary Tribunal this month to answer questions over its audit work at troubled life assurer Equitable Life.

Connolly named as Deloitte global chairman

The Deloitte Touche Tohmatsu board also approved the nomination of James Quigley, currently US firm chief executive officer, as the next Global CEO. Both appointments will be effective from 1 June 2007.

FEI Comments on Proposed SOX Changes

In separate letters submitted to the Securities and Exchange Commission (SEC) and the Public Company Accounting Oversight Board (PCAOB), Financial Executives International’s (FEI) Committee on Corporate Reporting (CCR) and Small Public Company Task Force (SPCTF), voiced concerns with recent changes proposed by the SEC and PCAOB to Section 404 of Sarbanes-Oxley.

Kazakh banks get a new normative standard

The ongoing expansion of Kazakh commercial banks abroad will soon be restricted by regulator. A positive relation between foreign debt and banks’ capitals is found.

Comments on Section 404 Changes Hit PCAOB

A flurry of e-mails and letters arrived just under the deadline for the Public Company Accounting Oversight Board’s 70-day comment period regarding proposed changes to the audit standard on internal controls over financial reporting. Just before Christmas, the seven-member board unanimously voted to circulate a proposal that would trim the amount of testing required for auditors to evaluate internal controls over the financial reporting process.

S&P recommends on Russian investments

International ratings agency “Standard & Poor’s” says up 10% of the whole investment portfolio may be directed into Russian economy. This is what Tiber Johnson, director of S&P’s emerging markets rating department, said while giving recommendations to the agency’s partners.

IASB looks to amend IAS 24

The draft proposes amending the requirements for entities to disclose information about related parties in their financial statements.

Russian companies will soon buy foreign securities easily

Depositary institutions may now be able to carry transactions by the so called “delivery vs. payment” method on their accounts opened abroad. This legalizes currency flows between Russian depositary institutions and their clients whenever services for accounting the rights of ownership of foreign securities are provided.

PwC to Shutter Japanese Partner Tied to Scandal

Not even a year after pledging to stand by the side of its Japanese affiliate, PricewaterhouseCoopers announced that the doors to its Misuzu Audit Corp. firm would close, after revelations of the unit’s ties to a second scandal surfaced.