Carney is trying to trick all of us with some accounting sleight of hand, opines the title of a recent National Post article. It’s written by Kim Moody. Here are some extracts: The article reminds us that under Canadian Public Sector Accounting Standards, tangible capital assets are non-financial assets having physical substance that That’s largely…

Here’s an overview of a recent enforcement action filed by the Ontario Securities Commission: The OSC lists seventeen different classes of order that it seeks from the capital markets tribunal (maybe that’s a tad too long a list for maximum punchiness) including that Purpose and its Chair/CEO have their registration or recognition under Ontario securities…

IFRIC recently discussed the classification of a foreign exchange difference from an intragroup monetary liability (or asset).  The fact pattern involves an entity that enters into a loan with its subsidiary; the entity and its subsidiary have different functional currencies. This intragroup loan is denominated in the functional currency of either the entity or its…

One of the many challenging aspects of standard-setting is the fine-tuning of a standard’s scope and application: that is, to what degree and under what circumstances affected entities should be given a break from some of the requirements. This is from the basis for conclusions to IFRS S1 General Requirements for Disclosure of Sustainability-related Financial Information :…

As I’ve noted before, one of my bigger regrets is the time I spent on the cause of executive compensation disclosure, pretty much all of which was wasted: As I put it here nine years ago: Nothing has happened since then to change that assessment: you might conclude that companies actually take comfort in grossly…

I recently observed that “the term ‘trust’ is almost a mandated component of any CPA ‘thought leadership’ publication,” and that started me thinking about just how much so-called ‘thought leadership’ is out there. And then the Ontario Securities Commission published Insights on the OSC Staff’s Approach to Sustainable Finance   a publication that “builds on the work…

For the first time ever on this blog, here’s a link to Fox Business: At the time of that 2018 tweet, I opined on how “toxic Trumpian chaos slowly infects everything, whether or not in his direct line of fire,” and concluded: “The broader implications of this toxicity are so horrific that at this point,…

Here’s a recent news release from the shareholder advocacy organization Investors for Paris Compliance (I4PC): The reference to Bill C-59 reflects a recent strengthening of the Competition Act, to specifically prohibit ““[making] a representation to the public with respect to the benefits of a business or business activity for protecting or restoring the environment or…

As we discussed here, the IASB has issued a revised Practice Statement on management commentary.  One of the six specified “areas of content” to be included in such a commentary relates to an entity’s “business model,” defined as follows: Not too surprisingly, that’s somewhat fancier language than one often finds in definitions or explanations of…

Anyone who doubts the depth of Trump-era antipathy toward climate-related disclosure might check out the keynote address delivered by SEC Chair Paul Atkins at the Inaugural OECD Roundtable on Global Financial Markets. Here’s an extract: Atkins then goes on to take shots at the “double materiality” regulatory approach promoted under recently passed EU laws: Bloomberg…