As we covered here, the IASB has issued for comment Non-current Liabilities with Covenants, an exposure draft of proposed amendments to IAS 1, with comments to be received by March 21, 2022. The proposals would amend the current guidance on determining whether an entity has a right to defer settlement of a liability for at…

Here’s an issue discussed a while ago by IFRIC: The Committee received a request about an airline’s obligation to compensate customers for delayed or cancelled flights. In the fact pattern described in the request: a)   legislation gives a flight passenger (customer) the right to be compensated by the flight provider (entity) for delays and cancellations…

The Financial Times recently published an article titled – ‘Investors are shocked’: how Russia’s attack on Ukraine roiled markets Here are some extracts: The eruption of the biggest military conflict in Europe since the second world war caught many investors by surprise. Moscow’s stock market was hit by one of the biggest collapses in financial history this…

CPA Canada recently issued The Rise of the Social Pillar: An Introduction to the ‘S’ in ESG As the website sums it up: Stakeholders increasingly expect organizations to consider the impact of social matters on their business models, operations and across their value chains. Additionally, regulators and governments across the globe are looking at integrating…

Here’s a summary of a request recently received by the IFRIC: The request described government measures that apply to entities that produce or import passenger vehicles for sale in a specified market. Under the measures, entities receive positive credits if in a calendar year they have produced or imported vehicles whose average fuel emissions are…

We’ve looked several times at some of the comments received on the IASB’s exposure draft Disclosure Requirements in IFRS Standards—A Pilot Approach: Proposed Amendments to IFRS 13 and IAS 19, for which comments were requested by a revised date of January 12, 2022 In a nutshell, the draft guidance would require entities to comply “with…

A recent Globe and Mail piece suggests: When it comes to ESG issues, Canada’s financial industry needs a skills upgrade Here are some extracts: There’s no shortage of discussion about the nuts and bolts of environmental, social and governance issues. Governments, regulators and investors are demanding more disclosure, more analysis and more management of business…

The IASB recently issued Extractive Activities – a Project Update, written by IASB member Tadeu Cendon As we’ve noted before, IFRS 6 allows issuers some concessions in how an entity develops its accounting policies for recognizing and measuring exploration and evaluation assets – it labels this as a “temporary exemption” from aspects of IAS 8.…

Let’s look at some more of the comments received on the IASB’s exposure draft Disclosure Requirements in IFRS Standards—A Pilot Approach: Proposed Amendments to IFRS 13 and IAS 19, for which comments were requested by a revised date of January 12, 2022 In a nutshell, the draft guidance would require entities to comply “with overall…