The Ceres Accelerator for Sustainable Capital Markets issued Addressing Climate as a Systemic Risk: A call to action for U.S. financial regulators The Ceres Accelerator for Sustainable Capital Markets “aims to transform the practices and policies that govern capital markets in order to accelerate action on reducing the worst financial impacts of the global climate…
Maybe it’s just me, but at the current time it feels wrong to let more than a few blog posts go by without writing about covid-19 – I mean, it is the defining issue of our year, perhaps of our generation (we’ll see). But I don’t have anything new to say about it. So I…
Here in Ontario, Canada, we have something new to read, the recently-issued consultation report of the Capital Markets Modernization Taskforce. The taskforce was established in February 2020 to review and make recommendations to modernize Ontario’s capital markets regulation. The report notes that the last such review concluded in 2003, after three years of work, and…
The IASB has issued Classification of Liabilities as Current or Non-current—Deferral of Effective Date, amendments to IAS 1 I recapped the underlying subject matter at the time of the exposure draft – basically it relates to classifying a liability as current under IAS 1.69 based on the right at the end of the reporting period…
The IFRS Interpretations Committee recently considered the issue of reverse factoring arrangements. In such arrangements, a financial institution agrees to pay amounts an entity owes to the entity’s suppliers, and the entity agrees to pay the financial institution at a later date. The request came from Moody’s Investors Service, which reported that while 50% of…
We recently looked at the issue of earnings measures adjusted for the impact of covid-19… …which don’t actually appear to be that common at present. As I noted, many regulators and similar bodies preemptively spoke up against the practice, with the UK’s Financial Reporting Council for instance saying: “(Adjusted Performance Measures) which attempt to provide…
CPA Canada’s IFRS Discussion Group recently discussed a topic that’s quite widely applicable, but doesn’t get mentioned that often… Here’s how the meeting report summarized the background: Entities sometimes incur liabilities that they are unable to pay for a period of time. The unpaid amount may be subject to a statute of limitations that prevents…
I was thinking for some time of writing an article about the new plague of earnings measures adjusted for the impact of covid-19… …but I was held back because in Canada I wasn’t able to find any, and still can’t. I may just not be that good at searching for things. Still, it seems there…
I came across an interesting article by Gediminas Ziemelis: New IFRS for airlines with provisions for virus impact? The article sets out the heavy impact of the ongoing pandemic on the airline industry, one in which – as has been quite widely commented upon – “some airlines announced dividends to shareholders from last year’s profit…
The IASB recently issued Annual Improvements to IFRS Standards 2018-2020. There are only four items (proving once again that it was almost perfect already). Here they are. Financial instruments IFRS 9 regards an exchange of debt instruments with substantially different terms between an existing borrower and a lender as an extinguishment of the original financial liability…
