The United Kingdom’s Financial Services Authority (FSA, the banking and securities regulator) has published a report Financial Risk Outlook 2010. The report cautions financial institutions that “accounting mismatches” have the potential to report profits in a deteriorating economy – which the FSA is predicting.
American president Barack Obama addressed members of the US Senate’s banking committee, advising them a real financial reform – informs “Associated Press”. Barack Obama assumes that the reform should protect taxpayers from “dishonesty and irresponsibility” of the US financial institutions and to ensure transparency of the financial system.
Moody’s Investors Service has traditionally become the last among the “Big Three” credit rating agencies (CRA) to issue its credit warning – this time, to the USA and its current “triple A”.
The Ministry for Economic Development has prepared a new law project to increase business transparency of organizations under Russian government’s control – informed the ministry’s chairperson Elvira Nabiullina at the meeting with Dmitry Medvedev.
Recent announcements by American experts (that Ernst & Young became the main reason for Lehman Brothers’ bankruptcy) brought back to life discussions of the latest financial crisis. Analysts are now rethinking the role which was played by audit companies.
The International Accounting Standards Board (IASB) and US Financial Accounting Standards Board (FASB) today published for public comment an exposure draft on the reporting entity concept.
The International Accounting Education Standards Board (IAESB) will be revising International Education Standard (IES) 8 “Competence Requirements for Audit Professionals” and strongly encourages organizations and individuals to comment on proposed revisions.
ACCA (the Association of Chartered Certified Accountants) and ATC International are pleased to announce that ATC International Russia was awarded the ACCA Platinum Approved Learning Partner status, the first for a training provider in Russia.
Accountancy bodies are breaking new ground with their disciplinary tribunals. ICAS has decided to make theirs public, after years of outside pressure and lagging behind other accountancy bodies.
Turner and Tweedie to the rescue IASB proposal would leave core financials in banks’ annual reports “unpolluted” by regulatory calculations [05.03.2010 - 16:24] (opinions: 0)
Standard setters and regulators may join forces under a plan which could preserve global economic stability without manipulating accounting rules.
