The IASB recently added a project to its work plan to explore whether and how companies can provide better information about climate-related risks in their financial statements. Here’s how the news release summed it up: The initiation of the project responds to feedback received from the IASB’s recent Agenda Consultation for the IASB to enhance the reporting of climate-related…
A recent New York Times article by David Gelles explored “How Environmentally Conscious Investing Became a Target of Conservatives.” Here are some extracts: It’s been a widely accepted trend in financial circles for nearly two decades. But suddenly, Republicans have launched an assault on a philosophy that says that companies should be concerned with not…
Here’s the background to another issue recently discussed by CPA Canada’s IFRS Discussion Group Crypto trading platforms (“Platforms”) facilitate the buying and selling of crypto assets and may also perform functions similar to one or more of exchanges, alternative trading systems, clearing agencies, custodians and dealers. Platforms allow clients to trade crypto assets for other…
Here’s a portion of a recent IASB news release: The International Accounting Standards Board (IASB) has today concluded its project on improving its approach to developing and drafting disclosure requirements. The improved approach is designed to help the IASB develop Accounting Standards that would enable companies to make better judgements about which information is material…
A section of the ifrs.org website monitors the application of IFRS across the world, based on profiles for 167 jurisdictions. That’s not the whole world though, and you might well have asked – what about Ethiopia (well, you might have)? It’s not included among the 167, and barely mentioned anywhere on the website; there’s just the following…
The volume of commentary on ESG-related matters seems to grow by the day… An article by Barbara Shecter in Canada’s Financial Post considered whether pension funds have a legal obligation to consider climate change when investing. Principles for Responsible Investment (PRI), an international group backed by some of Canada’s largest pension funds, thinks so: (PRI)…
How Can We Make Accounting Cool? asked a recent Wall Street Journal article It’s written by Joe Queenan. Here are some extracts: In the past two years, as The Wall Street Journal recently reported, 300,000 accountants and auditors have left the profession, many on the dead run. The situation is so dire that American firms…
Here’s an extract from the January 2023 IASB Update: The IASB tentatively decided in September 2022 to propose adding to IFRS 3 Business Combinations a requirement for an entity to disclose quantitative information about synergies expected from a business combination in the reporting period in which the business combination occurs. to disclose quantitative information about expected synergies…
I’ve owned several Sonos speakers for a few years… …but I’m not any kind of Sonos stakeholder beyond that. I receive a regular stream of promotional emails from them, most of which contain little to grab the attention, but I did stop at a recent one announcing its “Listen Better Report 2022,” with the capsule…
Here’s the background to another issue recently discussed by CPA Canada’s IFRS Discussion Group: Green bonds are debt instruments where the interest rate is linked to certain environmental, social and governance (ESG) metrics. Green bonds include contractual terms that cause cash flows to vary depending on whether certain ESG metrics are met (ESG features). A…
