The financial reporting challenges arising from Covid 19 may largely be receding into the past… …but the aftermath yields its own issues. One of these is the new prevalence of hybrid-work arrangements under which companies provide their employees with more flexibility to work partly in the office and partly remotely. Here’s the background to an…

As we covered here, the IASB issued Property, Plant and Equipment: Proceeds before Intended Use, a limited-scope amendment to IAS 16. It focuses on one of the examples provided in IAS 16.17 of “directly attributable costs” of an item of property, plant and equipment, which are included within the amount recognized as an asset. Prior…

Canadian securities regulators propose changes to corporate governance disclosure practices and guidelines, announces a recent news release. Here’s an extract: The Canadian Securities Administrators (CSA) is seeking public comment (by July 12, 2023) on proposed amendments to corporate governance disclosure rules and policy relating to the director nomination process, board renewal and diversity. They would…

As part of its activities, the European Securities and Markets Authority (ESMA) organizes a forum of enforcers from 38 different European jurisdictions, all of whom carry out monitoring and review programs similar to those carried out here by the Canadian Securities Administrators. ESMA recently published some extracts from its confidential database of enforcement decisions on…

The UK Endorsement Board recently issued Accounting for Intangibles; UK Stakeholders’ Views. The report “summarizes the views of UK stakeholders and relevant literature about the accounting for intangibles in accordance with IFRS Accounting Standards.” The Board “will use these findings as an evidence base in its future work on intangibles, including future research work, developing…

The IASB mentioned a while ago that to “reduce diversity in practice and assist with the consistent application of the derecognition requirements in IFRS 9, (it) decided to clarify that for the derecognition of financial assets (except for ‘regular way’ transactions) and financial liabilities, an entity applies settlement date accounting”… The exposure draft to make all…

This is from a recent SEC press release: The Securities and Exchange Commission today announced that Activision Blizzard Inc., a video game development and publishing company, agreed to pay $35 million to settle charges that it failed to maintain disclosure controls and procedures to ensure that the company could assess whether its disclosures pertaining to…

The IASB recently added a project to its work plan to explore whether and how companies can provide better information about climate-related risks in their financial statements. Here’s how the news release summed it up: The initiation of the project responds to feedback received from the IASB’s recent Agenda Consultation for the IASB to enhance the reporting of climate-related…

A recent New York Times article by David Gelles explored “How Environmentally Conscious Investing Became a Target of Conservatives.” Here are some extracts: It’s been a widely accepted trend in financial circles for nearly two decades. But suddenly, Republicans have launched an assault on a philosophy that says that companies should be concerned with not…

Here’s the background to another issue recently discussed by CPA Canada’s IFRS Discussion Group Crypto trading platforms (“Platforms”) facilitate the buying and selling of crypto assets and may also perform functions similar to one or more of exchanges, alternative trading systems, clearing agencies, custodians and dealers. Platforms allow clients to trade crypto assets for other…