Global sustainability standards – cannot be radical enough?

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.” I’ve several times expressed my view that this initiative is more about preserving…

IFRS 15 – meeting the quality threshold? (often, no)

The UK’s Financial Reporting Council recently issued a report on its “follow-up thematic review” of IFRS 15 Revenue from Contracts with Customers. Here’s how the news release summed it up: This is the third review on the application of IFRS 15 and focusses on those areas that have previously provided the greatest cause for concern. Although…

The Purpose of a Corporation – just as it ever was

We looked here and here last year at America’s Business Roundtable’s Statement on the Purpose of a Corporation. The document specifically rejected the previous bedrock principle that corporations exist principally to serve their shareholders, committing to such matters as investing in employees, supporting communities, and delivering value for all stakeholders. With With 200 “who’s who”-level…

Hans got covid-related mail!

Thanks to my mask-wearing, socially isolated but still diligent mole at the IFRS Foundation, I’m pleased to present another selection of recent correspondence to and from the office of IASB Chair Hans Hoogervorst, this time on the burning topic of covid-19. Please read and marvel. Dear Mr. Hoogervorst. I currently live in an environment where…

Toward comprehensive corporate reporting, if not a better world

Five “leading sustainability and integrated reporting organizations” have issued Statement of Intent to Work Together Towards Comprehensive Corporate Reporting, a summary of alignment discussions. The five are CDP, the Climate Disclosure Standards Board, the Global Reporting Initiative, the International Integrated Reporting Council and the Sustainability Accounting Standards Board. Here’s an extract from the introduction Corporate…

Allocating the transaction price, or: if it weren’t the warrant…

Here’s the background to another issue recently discussed by Canada’s IFRS Discussion Group: Entities often issue securities that consist of a standalone equity instrument (e.g. share purchase warrant or a share) and a debt instrument (e.g. a note or debenture) that have been contractually linked as a unit solely for the purpose of offering them…

Retail investors and covid-19 – don’t panic until we tell you to!

OSC study explores retail investor responses to the COVID-19 pandemic, announces a recent news release. Here are some extracts: Investors have been confronted with unprecedented uncertainty during the COVID-19 pandemic. Understanding how the pandemic is affecting retail investor experiences and behaviours is key to protecting investors. The Ontario Securities Commission (OSC) today released a new study finding…