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…

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 last year published some extracts from its confidential database of enforcement decisions…

Let’s dip once more into the Inside Standard Setting blog of Armand Capisciolto, Chair of Canada’s Accounting Standards Board, and a recent post titled International Relationships Matter!: I believe that accounting standard setting should remain apolitical. Our goal is to create standards that support informed economic decision-making—standards that are stable and reliable, regardless of political…

It’s time now for another collection of IFRS-related tweets (as I still call postings on Elon Musk’s lamentably rebranded “X”), presented here in their original form with all misspellings, oddities and possible obscenities intact. First of all, an intriguing addition in our long-running series of instances of IFRS being used as an acronym for something…

Political Uncertainty Looms Over PCAOB as SEC Leadership Shifts, announces the headline of a recent article on the website of the New York State Society of CPAs. Here are some extracts: The PCAOB, created by Congress through the Sarbanes-Oxley Act of 2002, was established to oversee the auditing of public companies following major accounting scandals. This…

The Canadian Accounting Hall of Fame has announced its latest batch of inductees: In the “founders of the profession” category, we have R. Douglas (Doug) Thomas, who passed away in 2004: “a transformative figure in Canadian and international accounting, known for his visionary leadership and commitment to advancing financial reporting and auditing standards. Over a…

Elon Musk’s Department of Government Efficiency recently gave us a notable example of deficient accounting-related record-keeping… …and the Trump administration continues in its uniquely charmless way to provide material falling within the broad scope of this blog. You know how we’ve all believed, or claimed to believe, that financial and economic information is useful to…