The IFRS Foundation recently published an introductory article Digital financial reporting—Facilitating digital comparability and analysis of financial reports  The article offers the following overview: A digital financial report is a financial report in a computer-readable, structured data format. Although financial reports in a PDF format are visually and contextually understandable to humans, this format makes it…

As part of its activities, the European Securities and Markets Authority (ESMA) organizes a forum of enforcers from 38 different European jurisdictions, all of whom carry out monitoring and review programs similar to those carried out here by the Canadian Securities Administrators. ESMA recently published some extracts from its confidential database of enforcement decisions on…

Toby York, ever-stimulating founder of The Accounting Café, posted the following on LinkedIn: There’s angst about the state of the #accounting profession. Firms struggle to recruit, and convincing people of accounting’s purpose and social value is becoming harder. It’s possibly no accident that the profession lacks traction in popular culture. Or maybe its absence in…

While there’s much to be said about the recently-issued IFRS 18, Presentation and Disclosure in Financial Statements, the most important fact is simply that it won’t become effective until annual reporting periods beginning on or after January 1, 2027, and so no one needs to bother thinking about it any time soon. Thanks, that’s all…

The dismal case study of Trump Media & Technology Group In its own eye-rolling words, TMTG, the operator of the Truth Social platform, “aspires to build a media and technology powerhouse to rival the liberal media consortium and promote free expression. TMTG was founded to fight back against the big tech companies—Meta (Facebook, Instagram, and…

The IASB issued the Exposure Draft Financial Instruments with Characteristics of Equity—Proposed amendments to IAS 32, IFRS 7 and IAS 1, with a comment deadline of March 29, 2024. In common with pretty much everything the IASB ever issues, the exposure draft included a proposed increase in disclosure requirements, some of which don’t seem to have…

Are DEI jobs really disappearing?, asked a recent article in Pivot magazine. Here’s some of what the article, written by Tayo Bero, had to say: After the murder of George Floyd and the ensuing protests in 2020, executives in the corporate world responded by pumping resources into their diversity, equity and inclusion departments. Three years…

The IASB issued the Exposure Draft Financial Instruments with Characteristics of Equity—Proposed amendments to IAS 32, IFRS 7 and IAS 1, with a comment deadline of March 29, 2024. We already looked at various aspects of the exposure draft, but not at this one: The IASB proposes to clarify that: (a) only contractual rights and obligations…

The IASB has published a package of proposals aimed at enhancing the information companies provide to investors about acquisitions. Here’s some of what the press release had to say: Acquisitions continue to play a significant role in the global economy, with deals totalling US$3.2 trillion announced in 2023, according to data from Bain & Company. Investors…

Did I get your attention with that? It’s an overstatement of course – even if he wins this year’s election, he won’t be inaugurated until next year, and his murderousness won’t fully flower quite that fast. But I stand by the substance: in a second age of Trump, the philosophy and promise of IFRS, and…