Here are some extracts from the keynote speech at the recent IFRS Foundation conference, by Saker Nusseibeh, CEO of Federated Hermes Limited I am told there are some fifty-three jurisdictions represented today in this room and online, including standard setters, regulators and academics. – Which makes you, collectively, the custodians of something I have depended…

Let’s return to the IFRS 18 concept of management-defined performance measures. You’ll recall that the new standard defines such a measure as ‘a subtotal of income and expenses that an entity uses in public communications outside financial statements; to communicate to users of financial statements management’s view of an aspect of the financial performance of…

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 a while ago published some extracts from its confidential database of enforcement…

Reuters reported the following on June 5: Australia’s corporate regulator said on Friday it had launched a formal investigation into three KPMG Australia partners linked to whistleblower allegations the accounting firm misused confidential client data to win lucrative audit contracts. The Australian Securities and Investments Commission said it began a preliminary probe into KPMG in…

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…