A European example of problems in depreciation calculations Here’s another of the issues arising from extracts of enforcement decisions issued in the past by the European Securities and Markets Authority (ESMA) (for more background see here); this is from their 13th edition: “The issuer both owns and operates a fleet comprising supply and subsea vessels…
IASB Vice-Chair Iain Mackintosh’s recent speech titled The Importance and Challenges of Establishing Standards for Global Finance isn’t as obviously flimsy as some of the public addresses by Chair Hans Hoogervorst, but it’s rather strange in a different way. Take the following: “If investor and investee are increasingly likely to be sitting on different sides of…
Looking for more insight into the ongoing debate in Europe about the role of prudence in the IASB’s conceptual framework, I came across Getting a Better Framework: Prudence, a bulletin issued a year or so ago by the European Financial Reporting Advisory Group. The document provides a useful overview of the diverse notions of prudence…
A European example of a disagreement about what constitutes a business In numerous recent posts, I’ve looked at issues arising from extracts of enforcement decisions recently issued by the European Securities and Markets Authority (ESMA) (for more background see here). I came late to this party though, because ESMA had actually issued similar summaries on…
Might gender make a difference in how one reviews the application of IFRS? It probably seems like an immediately absurd, if not offensive question. It’s a logical extension though of some of the discussion surrounding the amendments recently proposed by the OSC to National Instrument 58-101 Disclosure of Corporate Governance Practices, regarding the representation of women on…
A European example of problems in derecognizing financial instruments Here’s another of the issues from some extracts of enforcement decisions recently issued by the European Securities and Markets Authority (ESMA) (for more background see here): “In 2011, the issuer granted a loan to its ultimate parent through a facility agreement and arranged issuance of preferred…
IASB Chair Hans Hoogervorst recently delivered another strangely underwhelming speech, this time on the topic of “Accounting and moral hazard.” The speech is handicapped by the absence of any explanation of what Hoogervorst takes the term “moral hazard” to mean, perhaps on the basis that it seems so obvious that it doesn’t need explaining. Paul Krugman…
A European example of the importance of information about new standards issued but not yet implemented Here’s another of the issues from some extracts of enforcement decisions recently issued by the European Securities and Markets Authority (ESMA) (for more background see here): “The issuer’s annual financial statements have been prepared in accordance with IFRS as…
The Chartered Professional Accountants of Canada and the Canadian Investor Relations Institute have jointly issued a draft discussion brief: Interim Reporting Strategies, which is open for comment until the end of April 2014. To obtain this post, and additional articles on IFRS by other writers, go to http://ifrs.wiley.com/news/interim-reporting-strategies-a-canadian-perspective (subscription required, but free trial available)
The IASB has issued an exposure draft of proposed amendments to IAS 1 resulting from its Disclosure Initiative, with comments to be received by July 23, 2014. The proposed narrow-focus amendments “will clarify some of (the Standard’s) presentation and disclosure requirements to ensure entities are able to use judgment when applying that Standard… (responding) to…
John Hughes IFRS Blog 