The IFRS Foundation recently issued its 2023 Annual Report, titled Better information for better decisions. This includes its audited consolidated financial statements for the year ended December 31, 2023, and as these must rank among the financial statements for which it would be most embarrassing if anything were identified as being less than state of…

The IFRS Foundation recently published an introductory article Digital financial reporting—Facilitating digital comparability and analysis of financial reports  The article offers the following overview: It explains: “Digital financial reporting can improve capital market transparency and efficiency. Improved transparency promotes capital formation and allows companies to raise capital at a lower cost. This opens up greater opportunities…

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 recently published some extracts from its confidential database of enforcement decisions on…

Toby York, ever-stimulating founder of The Accounting Café, posted the following on LinkedIn: I’ve said before that I’m not too optimistic that greater visibility in popular culture (or some manifestations of it anyway) would go particularly far in solving the profession’s recruitment and image problems (and at least in Canada, there’s apparently also a shortage…

While there’s much to be said about the recently-issued IFRS 18, Presentation and Disclosure in Financial Statements, the most important fact is simply that it won’t become effective until annual reporting periods beginning on or after January 1, 2027, and so no one needs to bother thinking about it any time soon. Thanks, that’s all…

The dismal case study of Trump Media & Technology Group In its own eye-rolling words, TMTG, the operator of the Truth Social platform, “aspires to build a media and technology powerhouse to rival the liberal media consortium and promote free expression. TMTG was founded to fight back against the big tech companies—Meta (Facebook, Instagram, and…

The IASB issued the Exposure Draft Financial Instruments with Characteristics of Equity—Proposed amendments to IAS 32, IFRS 7 and IAS 1, with a comment deadline of March 29, 2024. In common with pretty much everything the IASB ever issues, the exposure draft included a proposed increase in disclosure requirements, some of which don’t seem to have…

Are DEI jobs really disappearing?, asked a recent article in Pivot magazine. Here’s some of what the article, written by Tayo Bero, had to say: The article argues for a different approach to the area, for example: But not all hiring lends itself to the committed “blindness” that might be applied, say, to auditioning cello…

The IASB issued the Exposure Draft Financial Instruments with Characteristics of Equity—Proposed amendments to IAS 32, IFRS 7 and IAS 1, with a comment deadline of March 29, 2024. We already looked at various aspects of the exposure draft, but not at this one: This is intended to address questions that arise in practice about the…

The IASB has published a package of proposals aimed at enhancing the information companies provide to investors about acquisitions. Here’s some of what the press release had to say: Regarding the exemption in the penultimate bullet, the exposure draft states: “an entity must be able to describe a specific reason for not disclosing an item…