As we discussed here, the IASB has issued a revised Practice Statement on management commentary.  The document (of course!) contains a section on materiality: Information required by the objective of management commentary … and the disclosure objectives…shall be provided if it is material. In the context of management commentary, information is material if omitting, misstating…

Here’s a tentative agenda decision (open for comment until October 6th) arising from an issue recently considered by IFRIC: The request asked how an entity determines whether costs that are directly attributable to the origination or issuance of a financial instrument but are incurred before entering into the contractual arrangement are ‘incremental’ and, therefore, meet…

Canada’s IFRS Accounting Standards Discussion Group recently discussed some financial reporting considerations relating to tariffs. The discussion seems to have been almost as long and tortuous as the tariff saga itself, but somewhat more productive. Among much else, the group noted that the imposition of tariffs and related uncertainties at the reporting date may trigger…

The Canadian Securities Administrators recently took a trip down memory lane with CSA Staff Notice 51-366 Regulatory Concerns with Certain Asset or Business Acquisitions It relates to “problematic acquisitions” that “typically have the following attributes:” Significant number of securities issued The reporting issuer distributes a significant number of securities that carry either no resale restrictions…

I came across a recent study by Simon Thies titled: How Does the IASB Rationalize IFRS Standard-Setting Decisions and Construct Legitimacy? An Analysis of the Bases for Conclusions The study cites a previous study on standard setters’ “rhetoric and construction of legitimacy:” …the US Financial Accounting Standards Board’s (FASB’s) rhetorical strategy is mainly based on…

The IASB has issued a revised Practice Statement on management commentary.  It “intends for the revised Practice Statement to serve as a global benchmark for regulators to use in updating or developing their national requirements and guidance,” as well as providing “a comprehensive resource for companies to help meet investors’ information needs.” The former goal…

I came across a relatively new blog, AccountancyIQ, written by Nasir Uddin, a teacher of accounting and auditing: The blog teases the following… Are you ready to elevate your accounting and auditing expertise? Join me, a seasoned ACCA and ICAEW educator, on AccountancyIQ, where I’ll help you bridge the gap between theory and practice. Together,…

The IASB has issued a request for information in connection with its post-implementation review of IFRS 16 Leases, with comments requested by October 15, 2025. The document contains a summary of user perspectives: Initial feedback from users suggests that IFRS 16 is working as intended, has achieved its objective and has improved financial reporting. Most…

I came across a highly interesting recent think-piece written by Colin Mayer, entitled ESG is Dead, Be True and Fair Instead Here are some extracts: ESG is dead. It failed because it didn’t serve a purpose. It was both insignificant and unworkable. In its extrinsic, single materiality form, as promoted by IFRS, it was no…

A recent IFRIC agenda decision addressed the following fact pattern: an entity made a commitment in 2020 and 2021 to other parties to reduce a percentage of its carbon emissions by 2030 (referred to as a ‘2030 commitment’). the entity has taken ‘affirmative actions’ and, in its view, has created an established pattern of practice…