Hub Group, Inc. reported the following in February of this year: In connection with the preparation of its financial statements for the year ended December 31, 2025, the Company identified an error that resulted in the understatement of purchased transportation costs and accounts payable in the first nine months of 2025. The total amount of…

Let’s return to our coverage of Pope Leo I’m joking – no disrespect, but the Holy Father and his predecessors haven’t typically been within this blog’s zone of interest. But the recent encyclical letter on safeguarding the human person in the time of artificial intelligence touches on a few areas we’ve covered in the past.…

The IFRS Foundation recently issued an update on the appointment of its new chair: The IFRS Foundation Trustees’ Nominating Committee has provided an update on the recruitment for the next Chair of the International Accounting Standards Board (IASB) to succeed Andreas Barckow when his term ends on 30 June 2026. The Committee initiated the search…

The Canadian Accounting Hall of Fame has announced its latest group of inductees. There are only four, by far the smallest number to date (last year there were six; there were eight in the year before that). In the “founders of the profession” category, there’s Kenneth Le Mesurier Carter, summarized as follows: Kenneth Le Mesurier…

As we covered here, IFRIC recently discussed a fact pattern relating to reassessing control. In the fact pattern, the governing document of an investee controlled by an entity is amended in a way that could result in a change in the investee’s relevant activities, as well as in the rights of the entity and other…

As we’ve covered in the past, one of the major aspects of the new standard IFRS 18 Presentation and Disclosure in Financial Statements, applicable for periods beginning on or after January 1, 2027, is its approach to disclosing “management-defined performance measures.” IFRS 18 describes such a measure as a subtotal of income and expenses (excluding…

ISSB Chair Emmanuel Faber continues to tinker with messaging… This is from a recent speech at the 2026 Beijing International Sustainability conference: Adoption of our Standards continues with momentum. I sometimes hear that ESG is something of the past—that now it’s all about geopolitics; it’s all about AI and other things. Well, the truth is…

The US Securities and Exchange Commission has proposed rule and form amendments that would give public companies the option of filing semiannual reports in lieu of quarterly reports to meet their interim reporting obligations under the federal securities laws. Here’s the news release summary: Public companies, subject to Exchange Act Section 13(a) or 15(d), are…

Louis Goss recently published an article titled The end of the accountancy gravy train. Here are some extracts: Entry to the upper ranks of a “big four” firm was once considered the moment an accountant had made it. The prospect of becoming a partner at one of PwC, Deloitte, KPMG or EY was the ultimate…

In a post titled Skate to Where the Puck is Going, Armand Capisciolto, Chair of Canada’s Accounting Standards Board, recently set out some questions arising from ongoing changes in technology, relating to the Board’s ongoing research into how those changes are affecting the way financial information is consumed and accounting standards are applied: Areas he…