Our brand is consultation!

“To enable us to consult widely,” says the IFRS Foundation on its website, “we work closely with a wide network of advisory committees and bodies, representing the many different stakeholder groups that have an interest in and are affected by financial reporting.” It goes on: “These groups and bodies are important channels for us to gather…

Amazing new horizons in non-GAAP measures!

The past year provided little respite in the long-established war over non-GAAP measures… You all know how it goes, but here it is again anyway: on the one hand, these measures seem to many to provide a perspective on financial condition or performance that isn’t as clearly obtained from the IFRS-compliant financial statements. On the…

Rockin’ it!

“Chair Hoogervorst of #IASB quotes #Dylan !!” announced an over-excited tweet earlier this year. As the “quoting” consisted merely of observing that “the times, they are a-changin’ and we all need to adapt, the IASB included,” we can fairly conclude that even a single exclamation point would have been an excessive response, let alone two.…

Scandalous true crimes of IFRS!

The Ontario Securities Commission earlier this year launched the Office of the Whistleblower, the first paid whistleblower program by a securities regulator in Canada. The program offers compensation of up to $5 million to individuals who come forward with tips that lead to enforcement action. It accepts tips on “possible violations of Ontario securities law, including…

Star struck!

How Hollywood enhances our understanding of IFRS! Here’s an extract from a recent speech by IASB Chair Hans Hoogervorst: “Many investors ask us to start by providing a definition of performance. However, I believe that trying to do so is as illusory as trying to define beauty. Beauty is a multifaceted quality which to a…