We’ve looked several times already (here and here) at the concept of an active market as defined in IFRS 13, in particular through a couple of instances where European regulators took issue with an issuer’s contention that a particular shareholding wasn’t traded in such a market. CPA Canada’s IFRS Discussion Group recently considered the same…
Among the easier lessons to extract from the Trump presidency (not that any of them were needed, certainly not at such a wretched cost) is the inadequacy of social media, and of Twitter in particular, as a medium for conveying any message more complex than “I like cake”… I’ve written here several times about my…
Dr. Al Rosen is clearly one of the most high-profile accountants in Canada, and has been for years. No one has talked and written so consistently about the inherent limitations of financial statements, or tried so hard to shake users out of their potential complacency. Anyone who keeps track of Rosen’s articles and other public…
A European example of a significant judgment made under IFRS 10 As part of its activities, the European Securities and Markets Authority (ESMA) organizes a forum of enforcers from 30 different European jurisdictions, all of whom carry out monitoring and review programs similar to those carried out here by the Canadian Securities Administrators. ESMA recently…
The UK’s Big Innovation Centre recently released a Policy Report resulting from its “The Purposeful Company” project. The background to the report is as follows: “The Task Force is a consortium of FTSE companies, investment houses, business schools, business consultancy firms and policy makers. It has been examining how the governance and capital markets environment…
As we’ve discussed in many previous articles, the IASB has issued IFRS 15, Revenue from Contracts with Customers, effective for annual reporting periods beginning on or after January 1, 2018. The new standard is built around a five-step framework, the second step being to identify the performance obligations in the contract. A performance obligation is: A promise…
John Hughes IFRS Blog 