As we’ve addressed many times, the International Sustainability Standards Board issued its first two exposure drafts, General Sustainability-related Disclosures (S1) and Climate-related Disclosures (S2), which were both open for comment until July 29, 2022. Here’s an extract from the S1 document: An entity shall provide information that enables users of general purpose financial reporting to…

Globalism Failed to Deliver the Economy We Need heralds a recent article in The New York Times. It’s written by Rana Foroohar. Here are some extracts: For roughly half a century, our political economy has been based on the governing concept of neoliberalism — the idea that capital, goods and people should be able to…

Let’s look at another extract from the Ontario Securities Commission’s refilings and errors list. You’ll recall that this is a record 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, of providing an extra degree…

Here’s the main text of a recent news release issued by the Ontario Securities Commission: The Ontario Securities Commission (OSC) announced today it will be making targeted inquiries to certain public accounting firms that conduct audits of Ontario reporting issuers. As a result of ethical violations identified by regulators in Canada and other jurisdictions, the…

One of the Hottest Trends in the World of Investing is a Sham announces the title of a recent opinion piece in the New York Times It’s written by Hans Taparia, a “a clinical associate professor at the New York University Stern School of Business and a former entrepreneur.” Here are some extracts: Wall Street…

The IASB recently discussed some potential amendments to the contractual cash flow characteristics requirements in IFRS 9 Financial Instruments. We’ve already addressed some potential amendments to clarify some of the underlying principles of the solely payments of principal and interest (‘SPPI’) assessment. You’ll recall that IFRS 9 is based on the premise that amortized cost…

As we addressed here, the International Sustainability Standards Board has issued its first two exposure drafts, General Sustainability-related Disclosures (S1) and Climate-related Disclosures (S2), which were both open for comment until July 29, 2022. The general exposure draft proposes that an entity be required to report its sustainability-related financial disclosures at the same time as…

The IASB recently discussed some potential amendments to the contractual cash flow characteristics requirements in IFRS 9 Financial Instruments. The purpose of these would be to clarify some of the underlying principles of the “solely payments of principal and interest” (‘SPPI’) assessment. Feedback from the post-implementation review of IFRS 9 had indicated “that the IASB…

One of CPA Canada’s less adroit recent moments was as follows: CPA Canada is deeply saddened by the passing of Her Majesty the Queen. Her grace and leadership inspired many in Britain and beyond. Our organization is a participant in the Accounting for Sustainability (A4S) initiative, and we join our colleagues in sending our deepest…

As we addressed here, the International Sustainability Standards Board has issued its first two exposure drafts, General Sustainability-related Disclosures and Climate-related Disclosures, which were both open for comment until July 29, 2022. Here’s an extract: sources of finance. The basis for conclusions provides various examples of the disclosures that might result from this, for instance:…