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…

IFRS – all the news that’s not fit to print!

Like many of you I’m sure, no emails are more important to me than those that arrive from eIFRS. I’ve been known to miss vital events (deaths in the family, that kind of thing) because of not checking my email, but whenever I see eIFRS is the sender I click on it immediately, no matter…

Some extremely minor IFRS items (redeemed by Twitter!)

The IASB has issued Transfers of Investment Property, an exposure draft of proposed amendments to IAS 40, and its exposure draft of proposed Annual Improvements to IFRSs 2014-2016 Cycle, open for comment until March 18, 2016 and February 17, 2016 respectively. IAS 40.57 currently lists some circumstances in which an entity makes transfers to or from investment property,…

High risk!

The Canadian Securities Administrators have issued CSA Staff Notice 51-342 Staff Review of Issuers Entering Into Medical Marijuana Business Opportunities, summarizing the CSA’s findings and disclosure expectations for reporting issuers contemplating involvement in Canada’s medical marijuana industry. Here’s the summary from the news release: “The CSA’s review aimed to determine if reporting issuers were meeting…