A European example of identifying control under IFRS 10 Here’s another of the issues arising from extracts of enforcement decisions issued in the past by the European Securities and Markets Authority (ESMA); this is from their 24th edition: The issuer is an industrial company that holds 39% of the capital of Company X. The issuer…
Some of Canada’s provincial regulators recently released CSA Multilateral Staff Notice 51-349 Report on the Review of Investment Entities and Guide for Disclosure Improvements, which “summarizes key findings from an Ontario Securities Commission (OSC) staff review of the continuous disclosure of reporting issuers that meet the definition of an investment entity under IFRS 10 Consolidated Financial Statements.” The…
A European example of a significant judgment made under IFRS 10 As part of its activities, the European Securities and Markets Authority (ESMA) organizes a forum of enforcers from 30 different European jurisdictions, all of whom carry out monitoring and review programs similar to those carried out here by the Canadian Securities Administrators. ESMA recently…
The IASB has issued Sale or Contribution of Asset between an Investor and its Associate or Joint Venture, amendments to IFRS 10 and IAS 28, driven by questions about the appropriate accounting by an investor for a business it contributes to an equity-accounted investee. The guidance in IFRS 10 suggests that when it loses control of…
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…
This was one of the most popular posts on my old blog, which surprised me a bit, but maybe the exam room holds nostalgic appeal for many of us… I’m no doubt misremembering, but I’d almost swear that half the exercises when I was training to be an accountant related to figuring out eliminations of…
John Hughes IFRS Blog 