After a bit more than a month of the Russian Central Bank’s new recommendations in place, 60% of all banks are ready to follow them and disclose detailed information on their financial condition.
Russian Trade Systems will have to pay 500 thousand rubles for not informing regulators on its technical issues in due time. Chairman of the Federal Financial Market Service (FFMS) Vladimir Milovidov informed that fines had already been charged.
The Small and Medium Practices (SMP) Committee of the International Federation of Accountants (IFAC) today issued the “Guide to Practice Management for Small- and Medium-sized Practices”, which provides guidance on how this sector can better manage their practices and ultimately operate in a safe, profitable, and professional manner.
The U.S. Supreme Court today issued its decision in the constitutional lawsuit challenging the PCAOB, affirming in part and reversing in part the judgment of the Court of Appeals in favor of the PCAOB.
The National Bank of Ukraine (NBU) has changed limit values of financial indicators (that is, normative standards), upon violation of which it is going to commence liquidation and revocation of a bank license. The new order came into force on 26 June.
Similarly to the Central Bank which imposed a moratorium to exclude banks from the deposit insurance system, the Federal Financial Market Service (FFMS) is planning to allow stock exchanges to keep loss making companies within the “A”-class quotation list if those losses were incurred between 2008 and 2009.
The G20 group of countries has once again given its support for international accounting standards as it gathered for its latest meeting in Toronto at the weekend.
A supreme court decision which could decide the constitutionality of the US audit regulator and trigger wide-ranging audit reform, is due to be handed down today.
The FRC’s Board for Actuarial Standards (BAS) has today published its draft standard on pensions and insurance transformations in which the entitlements of scheme members and policyholders are changed.
