The UK’s Financial Reporting Council recently issued its thematic review of IFRS Share-based Payment. The report was based on a “desktop review of 20 listed companies with significant share-based payment expenses (covering) annual reports and accounts with year-ends falling between September 2024 and February 2025 (and) companies from a variety of sectors and of various…

The International Organization of Securities Commissions (IOSCO) recently issued a Statement on the Importance of High-Quality Valuation Information in Financial Reporting. The document “emphasizes the need for international consistency of high quality valuation information included in financial reporting to provide investors with relevant and reliable financial information.” It describes the following “notable areas where practices…

The IASB has issued Risk Mitigation Accounting, an exposure draft of proposed amendments to IFRS 9 and IFRS 7, open for comment until July 31, 2026. As IASB Chair Andreas Barckow puts it in the news release, the proposed (voluntary) model “aims to bring accounting and risk management closer together to enhance internal efficiency and…

In October last year, we looked at an ongoing legal case involving Lundin Mining Corporation. The case dealt with Lundin’s detection of “pit wall instability, arising from an unstable wedge, in a localized area of its open pit operations,” and a subsequent rock slide, within a few days of each other in October 2017; the…

As an important public service, carried out here without regard for my personal safety, we present another selection of correspondence to and from the office of IASB Chair Andreas Barckow, courtesy of my mole at the IFRS Foundation, another brave fighter for transparency. Please destroy after reading: Dear Mr. Barckow – just writing in interest…

A couple of years ago, inspired by a reported rumour about the origins of IAS 1 – one commentator called it “one of many ill-informed myths which ignores the realities of the world and, in particular, standard setting”- I had some fun making up my own IFRS-related rumours, in the hope that some of them…

It’s time now for yet another selection of tweets/postings on the increasingly toxic X which made reference to IFRS (or IFRs) in one form or another, presented here in their original form, all typos and obscenities and outright oddities intact (the last batch was here). Let’s start with yet another example of IFRS (or IFRs)…

Armand Capisciolto, Chair of Canada’s Accounting Standards Board, recently returned to the topic of politics in standard-setting… Here are some extracts: As we covered here, Capisciolto had covered related matters just seven months earlier, noting then: Plainly the topic is on his mind (maybe even more than baseball!), and although he doesn’t specify what prompted…

In 880 previous posts on this blog, I’ve never once mentioned IAS 29 Financial Reporting in Hyperinflationary Economies… Let’s remedy that today! IAS 29 is built on the premise that “In a hyperinflationary economy, reporting of operating results and financial position in the local currency without restatement is not useful. Money loses purchasing power at…

We looked here at the following announcement by the retailer WH Smith PLC: The company announced at the time that the Board had “instructed Deloitte to undertake an independent and comprehensive review.” The company has now issued a summary of the review:  It announced the following “remediation actions”: At the same time, the company announced…