I came across a relatively new blog, AccountancyIQ, written by Nasir Uddin, a teacher of accounting and auditing: The blog teases the following… Are you ready to elevate your accounting and auditing expertise? Join me, a seasoned ACCA and ICAEW educator, on AccountancyIQ, where I’ll help you bridge the gap between theory and practice. Together,…

The IASB has issued a request for information in connection with its post-implementation review of IFRS 16 Leases, with comments requested by October 15, 2025. The document contains a summary of user perspectives: Initial feedback from users suggests that IFRS 16 is working as intended, has achieved its objective and has improved financial reporting. Most…

I came across a highly interesting recent think-piece written by Colin Mayer, entitled ESG is Dead, Be True and Fair Instead Here are some extracts: ESG is dead. It failed because it didn’t serve a purpose. It was both insignificant and unworkable. In its extrinsic, single materiality form, as promoted by IFRS, it was no…

A recent IFRIC agenda decision addressed the following fact pattern: an entity made a commitment in 2020 and 2021 to other parties to reduce a percentage of its carbon emissions by 2030 (referred to as a ‘2030 commitment’). the entity has taken ‘affirmative actions’ and, in its view, has created an established pattern of practice…

At its May meeting, the IASB discussed its project on the Statement of Cash Flows and Related Matters. Here are some of the decisions it took, as summarized in the IASB Update: The IASB decided that it will assess potential ways to improve: the disaggregation of cash flow information in the financial statements;  the reporting…

An interesting article in Canadian Accountant ponders Why accountants should spend less time on the numbers and more time explaining the results. Written by Philip Maguire, it notes that “The combination of historical and current valuation requirements in the balance sheet, income statement and statement of cash flows have resulted in financial statements that are…

The Ontario Securities Commission recently released staff research that analyzes the frequency and sentiment of Canadian listed issuers’ references to Artificial Intelligence (AI) in their financial disclosures. Here’s how the OSC’s news release summed it up: OSC staff analyzed the Management Discussion and Analysis (MD&A) filings from S&P/TSX Composite Index issuers over a 10-year period.  The exploratory…

We recently looked at the current moves in the United States toward eliminating the audit regulator, the Public Company Auditing Oversight Board… And as if that wasn’t enough, Francine McKenna recently posted the following on LinkedIn: I hear that once the PCAOB is eliminated, there are those in the SEC now who will go after…

The Globe and Mail recently published an opinion piece titled Too long has the Toronto Stock Exchange been shrunken and battered. No more. It’s written by Bryce Tingle. Here are some extracts: The TSX has two interlocking problems. First, it has a regulatory regime (much of which is generated by Canada’s securities commissions and other…

We recently looked at a think-piece on the virtue of simplicity and concision in financial reporting… …and to extend that train of thought, I came across an article titled Less is More in Standard-Setting, written by Peter Reilly , a non-executive director at the UK Endorsement Board. Here are some extracts: There are currently around…