中注协制定贯彻落实国办56号文件实施意见 公开征求意见

1月14日,中国注册会计师协会印发《关于贯彻落实国务院办公厅转发财政部关于加快发展我国注册会计师行业若干意见的实施意见(征求意见稿)》,向全行业广泛征求意见。这是中注协贯彻落实     

中注协在京召开第四届理事会第六次会议 刘仲藜会长在会上表示要在学习实践活动中深入抓好国办56号文件精神的贯彻和进一步加强行业党的建设工作

2009年12月23-24日,中国注册会计师协会第四届理事会第六次会议在京召开。刘仲藜会长主持会议并作总结讲话。会议听取了陈毓圭秘书长所作的中国注册会计师协会2009年度工作报告,对《关于贯彻落实国务院办公厅转发财政部关于加快发展我国注册会计师行业若干意见的实施意见(讨论稿)》和《关于注册会计师行业积极做好医     

贯彻国办文件深化整改工作——中注协正式发布贯彻落实国办56号文件实施意见

在会计师事务所学习实践活动中,注册会计师行业紧紧围绕贯彻落实国务院办公厅转发财政部<关于加快发展我国注册会计师行业的若干意见>(国办发[2009]56号),积极推进行业科学发展.     

中注协制定《关于贯彻落实国务院办公厅转发财政部关于加快发展我国注册会计师行业若干意见的实施意见》

为了深入贯彻落实国办56号文件,加快发展我国注册会计师行业,充分发挥注册会计师和会计师事务所的主体意识和首创精神,中注协研究制定了《关于贯彻落实国务院办公厅转发财政部关于加快发展我国注册会计师行业若干意见的实施意见》(会协[2010]13号),并于2月12日向各省、自治区、直辖市印发。该意见全文如下:     

山西省人民政府办公厅关于加快发展全省注册会计师行业的实施意见

为认真贯彻落实《国务院办公厅转发财政部关于加快发展我国注册会计师行业若干意见的通知》(国办发[2009]56号)精神,经省人民政府同意,现就加快发展全省注册会计师行业提出如下实施意见:     

政策法规

关于引导企业科学规范选择会计师事务所的指导意见 为了深入贯彻落实《国务院办公厅转发财政部关于加快发展我国注册会计师行业若干意见的通知》（国办发[2009]56号）精神,提高企业会计信息质量．促进注册会计师行业的公平有序竞争,     

本土会计师事务所合并非坦途

“集结号”吹响本土所合并又起热潮 日前,国务院办公厅发布通知,转发了财政部《关于加快发展我国注册会计师行业的若干意见》（以下简称“《若干意见》”）,这是改革开放以来,经国务院同意、由国务院办公厅转发的关于CPA行业改革与发展的第一个指导性文件。     

中注协编订《注册会计师业务指导目录》公开征求意见

为贯彻落实国务院办公厅转发财政部《关于加快发展我国注册会计师行业的若干意见》(国办发[2009]56号),深化行业学习实践活动成果,更好地服务于我国经济社会发展新领域,进一步扩大     

各省区市注协新业务拓展重点推动项目认领工作完成

为深入贯彻落实国务院办公厅转发的<财政部关于加快发展我国注册会计师行业的若干意见>,根据中注协<关于贯彻落实国务院办公厅转发财政部关于加快发展我国注册会计师行业若干意见的实施意见>,本着干实事、使实劲、求实效的工作原则,中注协将会计师事务所新业务领域拓展作为深化行业服务经济社会发展功能、促进经济发展方式转变、实现行业跨越式发展的突破口,并于7月初向各省、自治区、直辖市注协印发<关于各地做好新业务拓展重点推动项目的通知>(以下简称中注协<通知>),开展了各地注协新业务拓展工作项目认领工作.     

中注协制定加强会计师事务所业务质量控制制度建设的意见

为贯彻落实国务院办公厅转发财政部《关于加快发展我国注册会计师行业的若干意见》(国办发[2009]56号),深化会计师事务所深入开展学习实践科学发展观活动的成果,进一步提高注册会计师行业的执业质量,促进行业科学发展,更好地服务经济社会发展,维护社会公众利益,中注协制定了《关于加强会计师事务所业务质量控制制度建设的意见》(会协[2010]8号),并于2月9日向各省、自治区、直辖市注册会计师协会印发。该文件全文如下:     

Financial innovation,the discovery of risk,and the U.S. credit crisis

Financial innovation and overconfidence about the risk of new financial products were key factors behind the 2008 U.S. credit crisis. We show that a model with a collateral constraint in which learning about the risk of a new financial environment interacts with Fisherian amplification produces a boom–bust cycle in debt, asset prices and consumption. Early realizations of a high-borrowing-ability regime turn agents optimistic about the persistence probability of this regime. Conversely, the first realization of a low-borrowing-ability regime turns agents unduly pessimistic. The model predicts large increases in household debt, land prices and excess returns during 1998–2006 followed by a collapse.     

Liquidity,Reconstitution, and the Value of U.S. Treasury Strips

An apparent pricing anomaly exists in the market for U.S. Treasury strips: zero-coupon strips created from principal payments typically trade at significantly higher prices than otherwise identical zero-coupon strips created from coupon payments. In addition to documenting this phenomenon, this study demonstrates that differences in liquidity and differences in reconstitution characteristics explain much of this price variation.     

Liquidity,Maturity, and the Yields on U.S. Treasury Securities

The effects of asset liquidity on expected returns for assets with infinite maturities (stocks) are examined for bonds (Treasury notes and bills with matched maturities of less than 6 months). The yield to maturity is higher on notes, which have lower liquidity. The yield differential between notes and bills is a decreasing and convex function of the time to maturity. The results provide a robust confirmation of the liquidity effect in asset pricing.     

VPIN,liquidity, and return volatility in the U.S. equity markets

We examine the volume-synchronized probability of informed trading metric (the VPIN flow toxicity metric, developed by Easley, Lopez de Prado, & O'Hara, 2012) as a real-time risk management tool for liquidity deteriorations in the U.S. equity markets. We find that VPIN provides information about market liquidity and stock return volatility on ex-ante basis. These results indicate that VPIN can be a useful risk-management tool for market makers, regulators and traders in the U.S. equity markets. We also document that VPIN is negatively associated with volume and number of trades, but positively associated with trade size and volume fragmentation. These findings suggest that VPIN indicates the adverse selection problem of liquidity providers by capturing the information in volume.     

The Eurosystem, the U.S. Federal Reserve, and the Bank of Japan: Similarities and Differences

The paper provides a systematic comparison of the Eurosystem, the U.S. Federal Reserve, and the Bank of Japan. These monetary authorities exhibit somewhat different status and tasks, which reflect different historical conditions and national characteristics. However, widespread changes in central banking practices in the direction of greater independence and increased transparency, as well as changes in the economic and financial environment over the past 15–20 years, have contributed to reduce the differences among these three world's principal monetary authorities. A comparison based on simple "over-the-counter" policy reaction functions shows no striking differences in terms of monetary policy implementation.