Here’s the main text of a recent news release issued by the Ontario Securities Commission: The Ontario Securities Commission (OSC) announced today it will be making targeted inquiries to certain public accounting firms that conduct audits of Ontario reporting issuers. As a result of ethical violations identified by regulators in Canada and other jurisdictions, the…

One of the Hottest Trends in the World of Investing is a Sham announces the title of a recent opinion piece in the New York Times It’s written by Hans Taparia, a “a clinical associate professor at the New York University Stern School of Business and a former entrepreneur.” Here are some extracts: Wall Street…

The IASB recently discussed some potential amendments to the contractual cash flow characteristics requirements in IFRS 9 Financial Instruments. We’ve already addressed some potential amendments to clarify some of the underlying principles of the solely payments of principal and interest (‘SPPI’) assessment. You’ll recall that IFRS 9 is based on the premise that amortized cost…

As we addressed here, the International Sustainability Standards Board has issued its first two exposure drafts, General Sustainability-related Disclosures (S1) and Climate-related Disclosures (S2), which were both open for comment until July 29, 2022. The general exposure draft proposes that an entity be required to report its sustainability-related financial disclosures at the same time as…

The IASB recently discussed some potential amendments to the contractual cash flow characteristics requirements in IFRS 9 Financial Instruments. The purpose of these would be to clarify some of the underlying principles of the “solely payments of principal and interest” (‘SPPI’) assessment. Feedback from the post-implementation review of IFRS 9 had indicated “that the IASB…

One of CPA Canada’s less adroit recent moments was as follows: CPA Canada is deeply saddened by the passing of Her Majesty the Queen. Her grace and leadership inspired many in Britain and beyond. Our organization is a participant in the Accounting for Sustainability (A4S) initiative, and we join our colleagues in sending our deepest…

As we addressed here, the International Sustainability Standards Board has issued its first two exposure drafts, General Sustainability-related Disclosures and Climate-related Disclosures, which were both open for comment until July 29, 2022. Here’s an extract: sources of finance. The basis for conclusions provides various examples of the disclosures that might result from this, for instance:…

As we addressed here, the International Sustainability Standards Board has issued its first two exposure drafts, General Sustainability-related Disclosures (S1) and Climate-related Disclosures (S2), which were both open for comment until July 29, 2022. We’ve noted several times the vast number of comment letters – more than 1,400! – received on the two projects. CFA…

As we addressed here, the International Sustainability Standards Board has issued its first two exposure drafts, General Sustainability-related Disclosures and Climate-related Disclosures, which were both open for comment until July 29, 2022. As you’d expect, the more than 1,400 comment letters received on the two projects take every approach imaginable: some provide detailed point by…

As we addressed here, the International Sustainability Standards Board has issued its first two exposure drafts, General Sustainability-related Disclosures and Climate-related Disclosures, which were both open for comment until July 29, 2022. The first document contains the following: The Exposure Draft sets out proposed requirements for comparative information, sources of estimation and outcome uncertainty, and…