This is from a recent speech by IASB Chair Andreas Barckow: That “apples with apples” line might easily trigger another edition of our periodic series, Great Cliches of IFRS. For instance, the following is from 2011: I don’t know if that last paragraph is entirely coherent, but the attempt is rather charming. And here’s one…

Among the many commenters on the ISSB’s recent consultation on agenda priorities was the World Nuclear Association. Here’s some of what they had to say: I’m not qualified to comment on the specific issue raised, although it strikes me that the dramatic numerical disparity cited (879 versus 28) is a bit less meaningful than the…

(See Peter Clark’s commentary on the following [evidently even more flawed than usual!] post) This is from the article No Comment: Language Barriers and the IASB’s Comment Letter Process, by Eduardo Flores, Brian Monsen, Emily Shafron and Christopher G. Yust: The authors carried out a study based on cataloging over 10,000 comment letters related to 88…

The IASB recently tentatively decided “to remove, as part of its next volume of Annual Improvements to IFRS Accounting Standards, the temporary nature of the exemption in IFRS 6 from the application of paragraphs 11–12 of IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors.” This provides an opportunity to revisit, perhaps for the last time,…

The IASB recently announced that it has “decided to explore targeted actions to improve the reporting of climate-related and other uncertainties in the financial statements.” It summarized: A staff paper set out some of the issues underlying this initiative: The staff paper notes that the greater attention to climate-related disclosures outside the financial statements may,…

Let’s play another round of “Great Cliches of IFRS” – Well, that’s probably enough already. The familiar “language of business” phrase is often attributed to Warren Buffet; a recent LinkedIn post by Accent Financial Services cited him in this regard and then expanded: “In business, there are three main “languages” – #accounting, #finance, and #economics. In order to…

The last post covered the recent exposure draft of “Annual Improvements to IFRS Accounting Standards – Volume 11” Shortly after drafting that, it occurred to me that I hadn’t directly experienced the ChatGPT that everyone’s talking about, although I’d heard a few things about its ability to knock out a usable first draft on virtually…

The IASB recently issued its exposure draft of “Annual Improvements to IFRS Accounting Standards – Volume 11”, with comments requested by December 11, 2023. So look, suppose someone says to you, I just improved my home; and you say, sounds great, what did you do; and he says, I fixed a leaky faucet….well, you might…

Continuing on our recent theme of happy takes on accounting… …this time from a perhaps unexpected source, the Chair of Canada’s Accounting Standards Board, Armand Capisciolto. He’s instigated a series of “Inside Standard Setting” articles, comprising “A little “inside baseball” on accounting standard setting” – a serious purpose, executed with a light touch. The first…

Let’s take another look at some items from the Ontario Securities Commission’s refilings and errors list. This is a chronological record covering the last three years, 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,…