We recently looked 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to IFRS 13 and IAS 19, for which comments were requested by a revised date of January 12, 2022 In a nutshell, the draft guidance would require entities to comply “with overall…

A recent article on the ESG Core website announces: Barely an infant, ESG is under attack. That can inspire unity, create fractions or end up a mirage. Written by Attila Schillinger, it muses as follows: Stakeholder capitalism really is a hybrid experiment. Can we keep capitalism with its growth and consumption paradigms going while serving…

As we discussed here, the IASB issued the exposure draft Disclosure Requirements in IFRS Standards—A Pilot Approach: Proposed Amendments to IFRS 13 and IAS 19, with comments requested by a revised date of January 12, 2022 The driving premise is that “the notes in financial statements sometimes include too little relevant information, too much irrelevant…

A recent press release announced that the Trustees of the IFRS Foundation had appointed Emmanuel Faber to serve as Chair of the International Sustainability Standards Board (ISSB), effective January 1, 2022. Here are some extracts: As the former Chair of the Board and CEO of Danone, a multi-national food products company, Faber has long championed…

A European example of deficiencies in identifying performance obligations for purposes of recognizing and measuring revenue under IFRS 15 Here’s another of the issues arising from extracts of enforcement decisions issued in the past by the European Securities and Markets Authority (ESMA); this is from their 24th edition: The issuer is an industrial company active…

Inspired by CPA Canada’s Complexity and the professional accountant: Practical guidance for ethical decision-making, we recently mused on what might be some of the characteristics of an “accountant of the public interest.” Let’s return to this now, inspired by a recent consultation paper issued by the Independent Review Committee on Standard Setting in Canada. The…

CPA Ontario has issued the paper You Can’t Touch This: The Intangible Assets Debate. The paper explores the issues we touched on here, along with some comments on opportunities for the CPA profession (disclosure – I talked to the lead author and am briefly quoted in there). Here are some extracts: Intangibles are thought to…

“Canadian Accounting Hall of Fame selects twelve inaugural inductees” reported Canadian Accountant earlier this year Here are the highlights: Twelve accountants and accounting academics from past and present have been named as the inaugural inductees of the Canadian Accounting Hall of Fame (CAHF). The list includes some historic names in Canadian business as well as…

As a special holiday treat, courtesy of my mole at the IFRS Foundation, let’s enjoy now an important and revealing selection of recent correspondence to and from the office of IASB Chair Andreas Barckow. Dear Dr. Barckow – In an interview, you said: “My wife and I are regular concert-goers, and we both sing in…

Let’s look at some of the reaction to IFRIC’s tentative agenda decision, Demand Deposits with Restrictions on Use As we addressed here, the fact pattern concerned an entity that holds a demand deposit whose terms and conditions don’t prevent the entity from accessing the amounts held in it, and that has a contractual obligation with…