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…

Opportunity knocks – new career paths in IFRS!

The wonderful possibilities for advancement in and around the IASB When the burdens of life get me down, I like to fantasize about escaping to a brighter existence, of the kind you might have if you worked for the IASB. Just consider the possibilities of this real-life opportunity: “We are looking for an experienced and knowledgeable hedge…

An IFRS for everyone, or: Irish Frogs Really Stink

The wonderful multiple identities of the world’s favourite acronym Of course, acronyms are terrific time-savers, but sometimes, inevitably, they cause a little confusion too. For instance, as someone who worked for a few years in securities regulation, I spent time immersed in the detailed grindings of the CSA, that is the Canadian Securities Administrators, so…