Here’s the background to an issue recently considered by Canada’s IFRS Discussion Group: On January 1, 20X5, an employee receives a share-based payment award that vests if Entity A’s share price hits a market performance condition (“target”) either by December 31, 20X5 (“Date 1”), or by December 31, 20X6 (“Date 2”). the award has the…

Over Half of M&A Dealmakers have Canceled Deals on ESG Due Diligence Findings, states an ESG Today report on a recent KPMG survey. Here’s some of what it had to say: The survey found that three quarters (74%) of professionals are already integrating ESG considerations as part of their M&A agenda, with the identification of…

Is there a term that’s applied more unproductively in the world of standard-setting and regulation than “investors”? It’s easy (and perhaps inevitable) for example to cite “investor protection” as a justification for almost anything a regulator might be inclined to do. But of course, “investors” is an extremely broad category, incorporating a wide range of…

The International Organization of Securities Commissions (IOSCO) recently announced their endorsement of the ISSB’s Sustainability-related Financial Disclosures Standards. Here’s an extract: IOSCO has engaged extensively with the ISSB over the last two years, culminating in a comprehensive and independent review of the final ISSB Standards. After a detailed analysis, IOSCO has determined that the ISSB…

Why Aren’t Accountants Happy Being Accountants? asks a recent article in the UK’s PQ Magazine. True, we’ve covered aspects of this issue several times already, but then, it’s eternally intriguing. Here’s what the article has to say: Just over a third (36%) of accountants are considering leaving the profession in the next five years, including…

The UK’s Financial Reporting Council published a thematic review of IFRS 13 Fair Value Measurement. Here’s the executive summary of key findings: Whilst the transaction price usually reflects fair value, there may be circumstances where this is not the case, for example, in transactions with related parties. Companies should ensure that appropriate adjustments are made…

Who would have expected that within a few days of each other, IASB Chair Andreas Barckow and ISSB Chair Emmanual Faber would both have kicked off speeches by citing notable movies? Interesting too that between them they covered almost the entire history of the cinema. First, here’s Faber: 98 years ago today, on 26 June…

Here’s an item from the June 2023 IFRIC Update: The Committee discussed a request about applying paragraph 2.4 of IFRS 9 to physical delivery contracts to buy energy. The Committee observed that the purchase of renewable energy such as solar and wind via long term energy contracts with physical delivery is widespread and is increasing…

The Accountant Shortage is Showing Up in Financial Statements announces a recent Wall Street Journal article. Here’s some of what the article, written by Mark Maurer, has to say: The widening shortage of accountants has begun showing up in financial statements. U.S.-listed companies such as car-parts provider Advance Auto Parts, electric-air-taxi firm Joby Aviation and German biotech company Evotec in…

The Canadian Securities Administrators recently issued a “statement on proposed climate-related disclosure requirements.” Here it is in its entirety: The Canadian Securities Administrators (CSA) welcomes the publication on June 26, 2023 of the International Sustainability Standards Board (ISSB)’s first two sustainability disclosure standards: IFRS S1 General Requirements for Disclosure of Sustainability-related Financial Information and IFRS S2 Climate-related Disclosures (together,…