The IASB has issued Disclosure of Accounting Policies – Amendments to IAS 1 and IFRS Practice Statement 2 IAS 1 currently requires that “an entity shall disclose its significant accounting policies comprising: (a) the measurement basis (or bases) used in preparing the financial statements; and (b) the other accounting policies used that are relevant to…
The Canadian Securities Administrators have issued CSA Notice 51-362 Staff Review of COVID-19 Disclosures and Guide for Disclosure Improvements, based on reviewing “the continuous disclosure filings of approximately 90 issuers across a broad spectrum of industries and size of operations, focusing on the disclosures of the most recent reporting period ending September 30, 2020.” Here’s…
Early last year, the IASB published “a Discussion Paper on possible improvements to the information companies report about acquisitions of businesses to help investors assess how successful those acquisitions have been.” We already looked at the reaction to a few aspects of the paper. Another of its key notions is that “Investors have said that companies…
We’ve already looked at the IASB’s Covid-19-related rent concessions, amendments to IFRS 16, effective for annual reporting periods beginning on or after June 1, 2020, with earlier application permitted. This is how the accompanying news release summed it up: The amendment exempts lessees from having to consider individual lease contracts to determine whether rent concessions…
CPA Ontario has issued a thought leadership report CPAs and the New Social Contract – The Rise of the Warrior Accountant. Here’s what that title refers to: In 2020, Financial Times columnist Gillian Tett called attention to the “suddenly not-so-boring” accountants working to harmonize (environmental, social and governance) reporting at the World Economic Forum in…
Early last year, the IASB published “a Discussion Paper on possible improvements to the information companies report about acquisitions of businesses to help investors assess how successful those acquisitions have been.” We already looked at some of the reaction to the paper’s discussion on potentially reintroducing amortization of goodwill, and on some of its disclosure proposals.…
Here in Ontario, Canada, we have something new to excite us – the final report of the Capital Markets Modernization task force. The taskforce was established in February 2020 to review and make recommendations to modernize Ontario’s capital markets regulation; the final report (following a consultation document issued last July) contains 74 recommendations. Here’s some…
Let’s return to the Consultation Paper recently issued by the Trustees of the IFRS Foundation “to assess demand for global sustainability standards and, if demand is strong, assess whether and to what extent the Foundation might contribute to the development of such standards.” One of the main options outlined in the paper was for the Foundation…
Here’s a news release to conjure with: November 19, 2020–VIQ Solutions Inc… a global provider of secure, AI-driven, digital voice and video capture technology and transcription services, announced today that it has refiled its interim financial statements for the six months ended June 30, 2020 and 2019, its interim management’s discussion and analysis (“MD&A”) for…
Let’s return to the Consultation Paper recently issued by the Trustees of the IFRS Foundation “to assess demand for global sustainability standards and, if demand is strong, assess whether and to what extent the Foundation might contribute to the development of such standards.” One of the main options outlined in the paper was for the Foundation…
