The Canadian Securities Administrators have issued Staff Notice 51-346 Continuous Disclosure Review Program Activities for the fiscal year ended March 31, 2016. The report highlights a motley selection of apparently recurring deficiencies in IFRS financial statements: Market Risk Sensitivity Analysis “Some issuers present sensitivity analysis that is not reflective of the reasonably possible changes in…
A European example of interpreting one of the key concepts in measuring fair values under IFRS 13 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 17th edition: “The issuer invested in…
Some European observations on compliance with IFRS 13 We’ve already covered some of the material in the ESMA Report on Enforcement and Regulatory Activities of Accounting Enforcers in 2014, issued a while ago by the European Securities and Markets Authority. Here’s another extract: “Considering the date of the first application of IFRS 13 Fair Value Measurement,…
The Alberta Securities Commission has recently issued its 25th Annual Corporate Finance Disclosure Report The report contains observations on MD&A, prospectuses and other matters, but I’ll just focus here on what it has to say about financial statements. It highlights four IFRS-related areas in particular, and digs into some of these in somewhat greater detail…
An example of the limitations of valuation techniques The Canadian IFRS Discussion Group recently considered the following fact pattern, versions of which come up fairly often in practice: “On December 23, 2014, Entity A recognizes a financial liability at $1,000, which is equivalent to the consideration received; Entity A used a valuation technique to measure the…
A European example of interpreting one of the key concepts in measuring fair values under IFRS 13 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 16th edition: “The issuer is a…
A European example of non-disclosure in an often important area 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 11th edition: “The issuer is an offshore services company which operates on a…
As we discussed here, the IASB has published for public consultation proposals to improve the Conceptual Framework for Financial Reporting, with comments to be received by October 26, 2015. The proposals retain the current definition of equity, as “the residual interest in the assets of the entity after deducting all its liabilities,” adding a few…
A European example of assessing impairment (or not) in a related party situation 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 11th edition: “The issuer’s accounting policies in its 2009 financial…
Issues relating to the costs of raising equity 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 15th edition: “The issuer is a pharmaceutical company which was listed for the first time…
John Hughes IFRS Blog 