The OSC has issued OSC Staff Notice 52-723 Office of the Chief Accountant Financial Reporting Bulletin. The document revisits the topics of going concern and non-GAAP measures, which we’ve covered on this blog several times in the past. On the latter, the document makes the observation that “the presentation and discussion of an extensive number of…
KPMG has recently issued Room for Improvement, the second edition of its survey of business reporting. The study presents ‘the main findings from a global analysis of the content of 270 larger listed companies’ reports, in an effort to highlight weaknesses and identify good practices in the presentation of corporate information.” These are its main…
Could the momentum of IFRS in Canada be fated to decline? Here’s an extract from an interesting recent article in the National Post, written by Drew Hasselback: “Add the publicly traded company to the endangered species list. Since 2007, the number of publicly listed companies in Canada has dropped 16.7 per cent, according to statistics…
Should IFRS shine a light onto dark money? The question comes to mind after reading a recent New York Times article titled: Why Dark Money is Bad Business. Here are some extracts: “It’s only May, but this presidential election is on track to be one of the most expensive ever. So far two-thirds of election…
The Alberta Securities Commission has recently issued its 25th Annual Corporate Finance Disclosure Report The report contains observations on MD&A, prospectuses and other matters, but I’ll just focus here on what it has to say about financial statements. It highlights four IFRS-related areas in particular, and digs into some of these in somewhat greater detail…
I somehow stumbled onto the website of the “Corporate Reporting Dialogue,” “an initiative designed to respond to market calls for greater coherence, consistency and comparability between corporate reporting frameworks, standards and related requirements.” It was spawned under the umbrella of the broad Integrated Reporting initiative, which seeks to work toward “a concise communication about how…
Here’s the background to an issue recently discussed by Canada’s IFRS Discussion Group: “The marketplace has evolved such that there are new types of entities emerging that have non-traditional structures in terms of raising capital (for example, crowd funding) or being structured as an investment (for example, closed-end funds). Crowd funding is the raising of…
The Canadian Securities Administrators have finalized their rule amendments to streamline and tailor disclosures by venture issuers, set to come into effect on June 30, 2015 The main effect of the changes, as summarized in the CSA’s news release, will be to bring in the following: allow all venture issuers to meet interim management’s discussion…
The Canadian Securities Administrators recently issued for comment a package of proposed amendments to existing continuous disclosure, prospectus, and audit committee rules and related policies, intended “to make the disclosure requirements for venture issuers more suitable and manageable for issuers at their stage of development.” The proposals are open for comment until August 20, 2014.…
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