Some issues around the first step in the IASB’s new framework for recognizing revenue As we summarized here, the IASB has issued IFRS 15, Revenue from Contracts with Customers, effective for annual reporting periods beginning on or after January 1, 2017 (NB this was subsequently amended to January 1, 2018). The new standard is built…
The Canadian Securities Administrators have issued their latest report on the activities of their continuous disclosure review programs, Staff Notice 51-341, covering the fiscal year ended March 31, 2014, and based on 991 reviews of one kind or another. As so often, the CSA report doesn’t choose to open the window too wide: it states…
The IASB has issued Investment Entities: Applying the Consolidation Exception, an exposure draft of proposed amendments to IFRS 10 and IAS 28, with comments to be received by September 15, 2014. The exposure draft reflects issues that have arisen in applying the IASB’s important conclusion, effective since the beginning of 2014, that an investment entity…
The Canadian Securities Administrators recently issued for comment a package of proposed amendments to existing continuous disclosure, prospectus, and audit committee rules and related policies, intended “to make the disclosure requirements for venture issuers more suitable and manageable for issuers at their stage of development.” The proposals are open for comment until August 20, 2014.…
Some observations on the IASB’s recent amendments to the existing requirements for biological assets, including a new concept of “bearer plants” The IASB has issued Agriculture: Bearer Plants, amendments to IAS 16 and IAS 41, effective for annual periods beginning on or after January 1, 2016. Prior to the amendments, IAS 41 sets out a…
On the IASB’s faltering attempts to communicate with a (perhaps) key constituency The IASB has been making a decent attempt to communicate with investors, but it’s apparently not easy. Its website has a section dedicated to such readers, including high-level summaries of various standards and summaries of investor feedback on some of its projects. The…
Some observations on a recent speech to the IFRS Foundation Conference in London by IASB Vice-Chair Ian Mackintosh. Most of Mackintosh’s text consists of updates on current projects, but in the closing stretch, he steps back to make some broader remarks: “… I find it interesting to note that in recent speeches, various members of the FASB…
A European example of challenges in determining the appropriate discount rate for purposes of the impairment calculation Here’s another of the issues arising from extracts of enforcement decisions issued in the past by the European Securities and Markets Authority (ESMA) (for more background see here); this is from their 13th edition: “The issuer operates in…
A European example of related party disclosures omitted from interim financial statements Here’s another of the issues arising from extracts of enforcement decisions issued in the past by the European Securities and Markets Authority (ESMA) (for more background see here); this is from their 13th edition: “The issuer manufactures industrial metals. One major shareholder owned…
A European example of an issue relating to the useful life of intangible assets Here’s another of the issues arising from extracts of enforcement decisions issued in the past by the European Securities and Markets Authority (ESMA) (for more background see here); this is from their 13th edition: “The issuer is a listed company specialising…
John Hughes IFRS Blog 