Among the many commenters on the ISSB’s recent consultation on agenda priorities was the World Nuclear Association. Here’s some of what they had to say: We believe that ISSB should adopt the ‘principle of technological neutrality’, with a focus on developing performance-based criteria that provide an accurate and comparable account of climate-related and sustainability related…
(See Peter Clark’s commentary on the following [evidently even more flawed than usual!] post) This is from the article No Comment: Language Barriers and the IASB’s Comment Letter Process, by Eduardo Flores, Brian Monsen, Emily Shafron and Christopher G. Yust: Even though over 90 percent of the countries that use IFRS do not use English as…
The IASB recently tentatively decided “to remove, as part of its next volume of Annual Improvements to IFRS Accounting Standards, the temporary nature of the exemption in IFRS 6 from the application of paragraphs 11–12 of IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors.” This provides an opportunity to revisit, perhaps for the last time,…
The IASB recently announced that it has “decided to explore targeted actions to improve the reporting of climate-related and other uncertainties in the financial statements.” It summarized: The possible actions include development of educational materials, illustrative examples and targeted amendments to IFRS Accounting Standards to improve application of existing requirements. Given the pace of change…
Let’s play another round of “Great Cliches of IFRS” – Often called “the language of business,” finance and accounting information is the foundation for all business decisions. While it might not seem to be important in the early stages of your career, the importance of finance and accounting becomes amplified as you ascend the corporate…
The last post covered the recent exposure draft of “Annual Improvements to IFRS Accounting Standards – Volume 11” Shortly after drafting that, it occurred to me that I hadn’t directly experienced the ChatGPT that everyone’s talking about, although I’d heard a few things about its ability to knock out a usable first draft on virtually…
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: Over the course of my career, one of the most valuable lessons I have learned is the value of storytelling and how to use stories to convey…
