It’s been a while since we returned in this space to the issue of digital financial reporting… …so let’s do so now via the recent report The Future of Financial Reporting – What Size Do You Want? by Professor Peter Wells and Chartered Accountants Australia and New Zealand. Here’s the executive summary: With major economies…
There’s no shortage of available commentary on going concern implications of covid-19… …whether from preparer or auditor perspectives. In some cases, the pandemic will have exacerbated pre-existing conditions; in others, a previously sound business model and cash flow situation may have been decimated. Poor Cineplex Inc. provides a prime Canadian example of changing fortunes. Its…
CPA Canada’s IFRS Discussion Group recently discussed some issues arising from covid-19. The fact pattern for one of them is this: As a result of government-imposed closures due to the pandemic, many businesses have sent employees home with pay. These employees are inactive while at home but are expected to return to work whenever operations…
CPA Canada’s IFRS Discussion Group recently discussed the issue of “client money,” introducing the topic as follows: The term “client money” is used to describe a variety of arrangements in which an entity holds funds on behalf of its clients. Such arrangements may include: a bank may hold money on deposit in a customer’s bank…
The Ceres Accelerator for Sustainable Capital Markets issued Addressing Climate as a Systemic Risk: A call to action for U.S. financial regulators The Ceres Accelerator for Sustainable Capital Markets “aims to transform the practices and policies that govern capital markets in order to accelerate action on reducing the worst financial impacts of the global climate…
Maybe it’s just me, but at the current time it feels wrong to let more than a few blog posts go by without writing about covid-19 – I mean, it is the defining issue of our year, perhaps of our generation (we’ll see). But I don’t have anything new to say about it. So I…
John Hughes IFRS Blog 