Professional news

ZAO “PricewaterhouseCoopers Audit”, a Russian department of PricewaterhouseCoopers has managed to make the Tax Inspectorate return the interest of 88.5 million RUR, a surplus accumulated to the amount of the 2006 taxes.

Claiming that Ernst & Young was turned out to be one of the bankruptcy reasons of Lehman Brothers, the American experts opened a new facet of the last financial crisis debates: analysts fell to thinking of the part the audit firms had in that process.

In Komi a criminal investigation with regard an audit firm’s employee accused of illegal use of copyright and allied rights, and of illegal access to the computer information protected by law have been completed

The State Duma is going to abolish mandatory audit of Russian small business enterprises. The corresponding bill was submitted to the Lower House of Parliament by members of its Property Committee headed by the Chairman Viktor Pleskachevsky./ “United Russia”/.

Deputies has decided to simplify the accounting preparation for small enterprises.

The Property Committee of the State Duma of the RF spoke and proposed to release small business entities acting as LLCs (Limited Liability Companies) from mandatory audits.

The letter of Entrepreneur Vladimir Neveykin, who compares his personal experience in carrying out business in Russia and China, has been presented in the monthly magazine “Communities and Alliances on the Municipal Level” (Nos. 9 and 10 for 2009) published by the Khabarovskiy Kray Charitable Social Organization Green House. The letter was placed on our site by courtesy of our client – Green House».

Tver District Court of Moscow has extended for two months – till November 15 - the ward period of Sergey Magnitsky, Managing partner of the audit firm Firestone Duncan, who is accused of assisting the Hermitage Capital investment fund in dodging taxes of 100mln. RUR. The Investigative Committee of the Ministry of Interior of Russia has promised to complete investigation of the case by November. Then Mr. Magnitsky will be able to proceed to familiarize with the insight

Independent experts think that some rules of a new law about auditing activity may cause repartition of the market. Incidentally, the saying goes about the law regulation that stipulates for the authorized capital share of an audit firm belonging to auditors and audit organizations to be equal to or more than 51 per cent. Having attended to the auditors’ fortunate, the independent experts filed an application to the competent authorities to forward an inquiry to the Constitutional Court of the RF in order to verify, whether this regulation is constitutional.