Negative low emission vehicle credits – we’re much obliged!

Here’s a summary of a request recently received by the IFRIC: The request described government measures that apply to entities that produce or import passenger vehicles for sale in a specified market. Under the measures, entities receive positive credits if in a calendar year they have produced or imported vehicles whose average fuel emissions are…

A pilot approach to disclosure – embrace the checklist?

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to IFRS 13 and IAS 19, for which comments were requested by a revised date of January 12, 2022 In a nutshell, the draft guidance would require entities to comply “with…

ESG – come on people!

A recent Globe and Mail piece suggests: When it comes to ESG issues, Canada’s financial industry needs a skills upgrade Here are some extracts: There’s no shortage of discussion about the nuts and bolts of environmental, social and governance issues. Governments, regulators and investors are demanding more disclosure, more analysis and more management of business…

A pilot approach to disclosure – for some it flies!

Let’s look at some more 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to IFRS 13 and IAS 19, for which comments were requested by a revised date of January 12, 2022 In a nutshell, the draft guidance would require entities to comply “with overall…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 pilot approach to disclosure – the ride’s still bumpy!

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to IFRS 13 and IAS 19, for which comments were requested by a revised date of January 12, 2022 In a nutshell, the draft guidance would require entities to comply “with overall…

The (not necessarily, but very possibly) ugly future of ESG

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…

A pilot approach to disclosure – we don’t think that thing can fly!

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…

Sustainability reporting moves forward, or: welcome to Faberland!

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…

Recognizing revenue – accounting for the mould, not breaking it!

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…