The Securities and Exchange Commission issued a report cautioning credit rating agencies about deceptive ratings conduct and the importance of sufficient internal controls over the policies, procedures, and methodologies the firms use to determine credit ratings.
US President Barack Obama’s chief economic adviser Paul Volcker has expressed fears the American fair-value proposal may be heading in the wrong direction, in an interview with Forbes.com last month.
The head of the international accounting rule maker said he has little sympathy for complaints on the surge of draft accounting standards being rolled out to meet the June 2011 convergence deadline.
The Financial Accounting Standards Board (FASB) has issued an Exposure Draft of a proposed Accounting Standards Update (Update) intended to increase transparency in financial reporting about entities that participate in multiemployer pension and other postretirement benefit plans.
The Ministry of Finance of the Russian Federation prepared amendments to the Internal Revenue Code to provide more favorable conditions for companies engaged into innovative business operations.
Large business in Russia and the Association of Regional Banks want to compare Russian companies’ credit ratings issued by different credit rating agencies.
The Financial Planning Coalition has asked the Securities and Exchange Commission to extend the fiduciary standard of care to broker-dealers and other financial professionals who provide personalized investment advice to retail customers.
The IFRS Foundation, the oversight body of the International Accounting Standards Board (IASB), today published for public comment proposed enhancements to the criteria for the IASB’s annual improvements process.
The Financial Accounting Foundation (FAF) today announced the availability of the proposed 2011 U.S. GAAP Financial Reporting Taxonomy for public review and comment. The FAF is responsible for the ongoing maintenance of the taxonomy applicable to public issuers registered with the U.S. Securities and Exchange Commission (SEC). The deadline to submit written comments is October 30, 2010.
The International Monetary Fund (IMF) has prepared a new type of credits - Precautionary Credit Line, which is to help developing economies to deal with new financial crisis situations, if there are more to come.
