Sustainability information – give us an audit, or give us nothing!

Let’s return to the Consultation Paper recently issued by the Trustees of the IFRS Foundation “to assess demand for global sustainability standards and, if demand is strong, assess whether and to what extent the Foundation might contribute to the development of such standards.” One of the main options outlined in the paper was for the Foundation…

You want errors and refilings? – you came to the right place!

Here’s a news release to conjure with: November 19, 2020–VIQ Solutions Inc… a global provider of secure, AI-driven, digital voice and video capture technology and transcription services, announced today that it has refiled its interim financial statements for the six months ended June 30, 2020 and 2019, its interim management’s discussion and analysis (“MD&A”) for…

Global sustainability standards – let’s double up?

Let’s return to the Consultation Paper recently issued by the Trustees of the IFRS Foundation “to assess demand for global sustainability standards and, if demand is strong, assess whether and to what extent the Foundation might contribute to the development of such standards.” One of the main options outlined in the paper was for the Foundation…

Business combinations under common control – let’s do it this way!

The IASB has issued for comment a discussion paper Business Combinations under Common Control, with comments requested by September 1, 2021. Here’s some of how the accompanying news release summed that up:  IFRS 3 Business Combinations set outs reporting requirements for mergers and acquisitions—referred to as business combinations in IFRS Standards. However, that Standard does not specify…

Amortizing goodwill? – so far, it’s a split decision!

Early last year, the IASB published “a Discussion Paper on possible improvements to the information companies report about acquisitions of businesses to help investors assess how successful those acquisitions have been.” To recap, the discussion paper “concluded that there is no alternative that can target goodwill better and at reasonable cost.” Among other things, the Board…

Global sustainability standards – but where to start?

Let’s return to the Consultation Paper recently issued by the Trustees of the IFRS Foundation “to assess demand for global sustainability standards and, if demand is strong, assess whether and to what extent the Foundation might contribute to the development of such standards.” One of the main options outlined in the paper was for the Foundation…

The heaving IFRS bookshelf!

I realize of course that after a work day revolving heavily around the three volumes of the red book, the last thing you might want to do at night is unwind with even more IFRS-related reading material. But if you dig deeply enough into the library, there’s something there for every taste. See for yourself!…

IFRS enhanced, or: coin tides for the times…

I came across a recent Twitter link to the “history of IFRS,” on a website called “Biz Stalker” (it describes itself as the leading information website in India) and I found it so informative and well-considered that I’ll post it here in its entirety: The International Accounting Standards Committee (IASC) was ascertained in June 1973…

Relevant feedback on group accounting, or: if you care about my happiness you’d get rid of it

The IASB is calling for feedback on the IFRS Standards for group accounting—IFRS 10 Consolidated Financial Statements, IFRS 11 Joint Arrangements and IFRS 12 Disclosure of Interests in Other Entities. Here’s how the news release summed that up: The Request for Information has been published as part of the Post-implementation Review (PIR) of these Standards. PIRs are carried out to assess…