Disclosures about business acquisitions – no more, please…

Early last year, the IASB published “a Discussion Paper on possible improvements to the information companies report about acquisitions of businesses to help investors assess how successful those acquisitions have been.” We already looked at the reaction to a few aspects of the paper. Another of its key notions is that “Investors have said that companies…

Pro forma information – flawed and incomplete, so let’s keep it!

Early last year, the IASB published “a Discussion Paper on possible improvements to the information companies report about acquisitions of businesses to help investors assess how successful those acquisitions have been.” We already looked at some of the reaction to the paper’s discussion on potentially reintroducing amortization of goodwill, and on some of its disclosure proposals.…

You got $10 million? Congratulations, see you in six months!

Here in Ontario, Canada, we have something new to excite us – the final report of the Capital Markets Modernization task force. The taskforce was established in February 2020 to review and make recommendations to modernize Ontario’s capital markets regulation; the final report (following a consultation document issued last July) contains 74 recommendations. Here’s some…

Sustainability information – give us an audit, or give us nothing!

Let’s return to the Consultation Paper recently issued by the Trustees of the IFRS Foundation “to assess demand for global sustainability standards and, if demand is strong, assess whether and to what extent the Foundation might contribute to the development of such standards.” One of the main options outlined in the paper was for the Foundation…

You want errors and refilings? – you came to the right place!

Here’s a news release to conjure with: November 19, 2020–VIQ Solutions Inc… a global provider of secure, AI-driven, digital voice and video capture technology and transcription services, announced today that it has refiled its interim financial statements for the six months ended June 30, 2020 and 2019, its interim management’s discussion and analysis (“MD&A”) for…

Global sustainability standards – let’s double up?

Let’s return to the Consultation Paper recently issued by the Trustees of the IFRS Foundation “to assess demand for global sustainability standards and, if demand is strong, assess whether and to what extent the Foundation might contribute to the development of such standards.” One of the main options outlined in the paper was for the Foundation…

Business combinations under common control – let’s do it this way!

The IASB has issued for comment a discussion paper Business Combinations under Common Control, with comments requested by September 1, 2021. Here’s some of how the accompanying news release summed that up:  IFRS 3 Business Combinations set outs reporting requirements for mergers and acquisitions—referred to as business combinations in IFRS Standards. However, that Standard does not specify…

Amortizing goodwill? – so far, it’s a split decision!

Early last year, the IASB published “a Discussion Paper on possible improvements to the information companies report about acquisitions of businesses to help investors assess how successful those acquisitions have been.” To recap, the discussion paper “concluded that there is no alternative that can target goodwill better and at reasonable cost.” Among other things, the Board…