Let’s return to the IFRS 18 concept of management-defined performance measures. You’ll recall that the new standard defines such a measure as ‘a subtotal of income and expenses that an entity uses in public communications outside financial statements; to communicate to users of financial statements management’s view of an aspect of the financial performance of…
As part of its activities, the European Securities and Markets Authority (ESMA) organizes a forum of enforcers from 38 different European jurisdictions, all of whom carry out monitoring and review programs similar to those carried out here by the Canadian Securities Administrators. ESMA a while ago published some extracts from its confidential database of enforcement…
Reuters reported the following on June 5: It had previously been reported that the aforementioned firm Dexus said it wouldn’t allow KPMG Australia’s chief operating officer to “be the signing partner – the registered auditor who attests that a company’s financial results reflect a true and fair view of its financial performance – for its…
Hub Group, Inc. reported the following in February of this year: A few months later, the contagion spread further: The “national shareholder rights law firm” Hagens Berman got right on it: This triggered some fairly predictable commentary, for instance: Well, yes. One notes though that as the Hub Group story continued to unfold, the market…
Let’s return to our coverage of Pope Leo I’m joking – no disrespect, but the Holy Father and his predecessors haven’t typically been within this blog’s zone of interest. But the recent encyclical letter on safeguarding the human person in the time of artificial intelligence touches on a few areas we’ve covered in the past.…
The IFRS Foundation recently issued an update on the appointment of its new chair: But if it’s going so well, you might ask, why the gap in transition? My understanding, based on information received from my mole in the organization, is that the chosen successor was initially reluctant to assume the post, and that it…
The Canadian Accounting Hall of Fame has announced its latest group of inductees. There are only four, by far the smallest number to date (last year there were six; there were eight in the year before that). In the “founders of the profession” category, there’s Kenneth Le Mesurier Carter, summarized as follows: He died in…
As we covered here, IFRIC recently discussed a fact pattern relating to reassessing control. In the fact pattern, the governing document of an investee controlled by an entity is amended in a way that could result in a change in the investee’s relevant activities, as well as in the rights of the entity and other…
As we’ve covered in the past, one of the major aspects of the new standard IFRS 18 Presentation and Disclosure in Financial Statements, applicable for periods beginning on or after January 1, 2027, is its approach to disclosing “management-defined performance measures.” IFRS 18 describes such a measure as a subtotal of income and expenses (excluding…
ISSB Chair Emmanuel Faber continues to tinker with messaging… This is from a recent speech at the 2026 Beijing International Sustainability conference: As we covered here, Faber himself has cited ESG in the past in setting out the importance of the ISSB’s work, so to say the standards have never been about that involves some…
The US Securities and Exchange Commission has proposed rule and form amendments that would give public companies the option of filing semiannual reports in lieu of quarterly reports to meet their interim reporting obligations under the federal securities laws. Here’s the news release summary: “Regulatory flexibility” is one of those terms (like “public interest”) that…
Louis Goss recently published an article titled The end of the accountancy gravy train. Here are some extracts: The article cites, among other things, the increased difficulty in becoming a salaried partner, increasing centralization that leaves many partners feeling like corporate employees (“the camaraderie of the old days has gone”), shortened partnership timelines shifting the…
In a post titled Skate to Where the Puck is Going, Armand Capisciolto, Chair of Canada’s Accounting Standards Board, recently set out some questions arising from ongoing changes in technology, relating to the Board’s ongoing research into how those changes are affecting the way financial information is consumed and accounting standards are applied: Areas he…
The ISSB recently announced a decision to propose requirements for nature-related disclosures in the form of an IFRS Practice Statement. This is from the news release: The ISSB had been discussing this project under the label “biodiversity, ecosystems and ecosystem services,” deciding only recently to change the title to “nature-related disclosures.” Nature-related risks and opportunities…
It feels recently as if I could devote this blog entirely to AI-related developments… …as if every new entry might anxiously immerse itself in the tussle of risk and opportunity, hopelessly trying to parse the significance of the latest piece of AI-related news or commentary (and there’s never a day without something new to chew…
John Hughes IFRS Blog 