Here’s a recent news release from the shareholder advocacy organization Investors for Paris Compliance (I4PC): Today I4PC filed a complaint with the Alberta Securities Regulator (ASC) alleging misleading disclosure regarding net zero by Cenovus and Enbridge. The choice of the ASC may come as a surprise to observers who have been expecting complaints to the…

As we discussed here, the IASB has issued a revised Practice Statement on management commentary.  One of the six specified “areas of content” to be included in such a commentary relates to an entity’s “business model,” defined as follows: the integrated set of processes by which the entity seeks to create value and generate cash…

Anyone who doubts the depth of Trump-era antipathy toward climate-related disclosure might check out the keynote address delivered by SEC Chair Paul Atkins at the Inaugural OECD Roundtable on Global Financial Markets. Here’s an extract: As we look with fresh eyes at the types of foreign issuers that receive special accommodations, we should also not…

A recent article looked at How Directors’ Past Experiences Shape Corporate Climate Policies. It’s written by Sehoon Kim, Bernadette A. Minton and Rohan Williamson, based on their academic research into the premise “that salient and adverse past experiences, such as witnessing the destruction and suffering caused by major natural disasters, can mold individuals’ prosocial preferences.…

The IASB last year issued Climate-related and Other Uncertainties in the Financial Statements, an exposure draft of proposed illustrative examples. The exposure draft proposed “eight examples illustrating how an entity applies the requirements in IFRS Accounting Standards to report the effects of climate-related and other uncertainties in its financial statements (in the expectation) that these…

The retailer WH Smith PLC includes the following accounting policy in its financial statements: The Group receives income from its suppliers in the form of supplier incentives and discounts (collectively “Supplier arrangements”). These incomes are recognized as a deduction from cost of sales on an accruals basis as they are earned for each supplier contract. The…

The Ontario Securities Commission recently published its draft Action Plan for Truth and Reconciliation (APTR) for engagement and comment. The news release put it as follows: Further to the Calls to Action from the Truth and Reconciliation Commission of Canada, the OSC is developing the APTR as part of its vision to ensure that Ontario’s capital markets…

Just in case you thought the age of Trump couldn’t become any more irrationally regressive… The New York Times reported the following on July 29: Lee Zeldin, the administrator of the Environmental Protection Agency, said on Tuesday the Trump administration would revoke the scientific determination that underpins the government’s legal authority to combat climate change.…

As we discussed here, the IASB has issued a revised Practice Statement on management commentary.  The document (of course!) contains a section on materiality: Information required by the objective of management commentary … and the disclosure objectives…shall be provided if it is material. In the context of management commentary, information is material if omitting, misstating…

Here’s a tentative agenda decision (open for comment until October 6th) arising from an issue recently considered by IFRIC: The request asked how an entity determines whether costs that are directly attributable to the origination or issuance of a financial instrument but are incurred before entering into the contractual arrangement are ‘incremental’ and, therefore, meet…