As we addressed here, the IASB has 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 previously looked at the aspects of the exposure draft relating to the “fixed-for-fixed” criterion. Here’s another one. IAS 32 currently contains…

As we covered here, the IASB recently called for stakeholder feedback to inform its review of the accounting standard for revenue from contracts with customers, IFRS 15. This is part of the regular post-implementation review process “to assess whether the effects of applying the new requirements on users of financial statements, preparers, auditors and regulators are…

Implicitly underlying much of the conversation about ISSB, and about the “green transition” in general, is the assumption that capitalism and sustainability can be aligned, that if we have good enough information and are sufficiently focused and skillful, we can solve our existential challenges while still ensuring satisfactory (perhaps even enhanced) returns on existing capital…

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…

As we covered here, the IASB recently called for stakeholder feedback to inform its review of the accounting standard for revenue from contracts with customers, IFRS 15. This is part of the regular post-implementation review process “to assess whether the effects of applying the new requirements on users of financial statements, preparers, auditors and regulators are…

The IASB has 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. The backdrop as set out in the basis for conclusions is that “financial innovation, market forces and changes to financial sector regulations have resulted in a…

The IFRS Interpretations Committee recently considered the following fact pattern: to offset its remaining emissions in 20X9 and thereafter, by buying carbon credits and retiring them from the carbon market. With its statement, the entity publishes a detailed plan setting out how it will gradually modify its manufacturing methods between 20X1 and 20X9 to achieve…

The Accounting Miscellany blog by Peter Clark (whom I thank upfront for inspiring the following big finish to the year) contained the following fascinating item: There is a strange but persistent rumour that IAS 1 Presentation of Financial Statements was written by Sir Henry Benson (later Lord Benson), the first chairman of the IASB’s predecessor, the International…

It’s time now for another collection of real-life IFRS-related tweets (or whatever they’re called now), presented here in their original form, with all typos, oddities and possible obscenities intact. I’ve been doing this for years, but it’s not as much fun as it used to be, given the sense of the extravagantly malign Elon Musk…

My last post, covering a recent discussion of carbon credits, prompted my friend Walter Ross to remind me of Kim Stanley Robinson’s “climate fiction” novel The Ministry for the Future, which among much else sets out a concept for a worldwide “carbon coin.” As it’s the holiday season, let’s spend a little time in a…