The IASB recently issued its exposure draft of “Annual Improvements to IFRS Accounting Standards – Volume 11”, with comments requested by December 11, 2023. So look, suppose someone says to you, I just improved my home; and you say, sounds great, what did you do; and he says, I fixed a leaky faucet….well, you might…

Continuing on our recent theme of happy takes on accounting… …this time from a perhaps unexpected source, the Chair of Canada’s Accounting Standards Board, Armand Capisciolto. He’s instigated a series of “Inside Standard Setting” articles, comprising “A little “inside baseball” on accounting standard setting” – a serious purpose, executed with a light touch. The first…

Let’s take another look at some items from the Ontario Securities Commission’s refilings and errors list. This is a chronological record covering the last three years, of companies that refiled or restated some aspect of their continuous disclosure record as a result of an OSC review – the list has the dual purpose, I believe,…

Well, it’s been a few years since the last installment, so let’s continue the periodic series I call “Great Cliches of IFRS.” Today’s example – well, you’ll see: And I could go on indefinitely. You may already be thinking that even if it is a cliché, it’s one that’s worth repeating for the sake of…

Here’s the background to an issue recently considered by Canada’s IFRS Discussion Group: This provides a nice opportunity to throw a few stones at IFRS 2, which I haven’t done for a few years. You’ll recall that the standard is based on the assumption that since no one gets something for nothing, an entity issuing…

Over Half of M&A Dealmakers have Canceled Deals on ESG Due Diligence Findings, states an ESG Today report on a recent KPMG survey. Here’s some of what it had to say: This is somewhat significant, but leaves many questions for its significance to be entirely “loud and clear.” At its simplest, the due diligence process…

Is there a term that’s applied more unproductively in the world of standard-setting and regulation than “investors”? It’s easy (and perhaps inevitable) for example to cite “investor protection” as a justification for almost anything a regulator might be inclined to do. But of course, “investors” is an extremely broad category, incorporating a wide range of…

The International Organization of Securities Commissions (IOSCO) recently announced their endorsement of the ISSB’s Sustainability-related Financial Disclosures Standards. Here’s an extract: The IFRS Foundation is working on an adoption guide to support jurisdictions in adopting the standards, and already published a “high-level roadmap” as a precursor to that. This acknowledges that, of course, regardless of…

Why Aren’t Accountants Happy Being Accountants? asks a recent article in the UK’s PQ Magazine. True, we’ve covered aspects of this issue several times already, but then, it’s eternally intriguing. Here’s what the article has to say: This seems to support the view expressed here before, that higher compensation alone can’t solve the profession’s recruitment…

The UK’s Financial Reporting Council published a thematic review of IFRS 13 Fair Value Measurement. Here’s the executive summary of key findings: It’s not too surprising that the FRC has more to say about disclosure problems than about those in the underlying methodology; it’s usually difficult to demonstrate that a particular fair value represents an…