Beyond Compliance – Promoting Excellence in Financial Reporting in Canada
  • PSAS - IPSASB Image
  • Updated IPSAS-IFRS alignment dashboard (March 2024)

    Feb 21, 2024

    On February 21, 2024, the International Public Sector Accounting Standards Board (IPSASB), which develops the International Public Sector Accounting Standards (IPSAS) for financial reporting by governments and other public sector entities, released an updated IPSAS-IFRS alignment dashboard showing how far individual IPSAS are aligned with corresponding IFRSs.

  • Leaf - sustainability (green) Image
  • IFRS Foundation webcast highlights importance of industry-specific disclosures to investors

    Feb 19, 2024

    On February 19, 2024, the International Financial Reporting Standards Foundation (IFRS Foundation) published a webcast highlighting the importance of industry-specific disclosures to investors, as well as educational material designed to help companies using the SASB Standards to meet the requirements in IFRS S1 General Requirements for Disclosure of Sustainability-related Financial Information.

  • SEC (US Securities and Exchange Commission) Image
  • SEC Chair warns about “AI Washing” again

    Feb 13, 2024

    On February 13, 2024, the Securities and Exchange Commission’s (SEC) Chair Gary Gensler delivered a speech at Yale Law School addressing various aspects of artificial intelligence (AI). He focused mainly on the issue of "AI washing” wherein companies mislead investors about their utilization of AI and associated risks.

  • IFRS - IASB Image
  • IASB issues podcast on latest Board developments (January 2024)

    Jan 30, 2024

    On January 30, 2024, the IASB released a podcast hosted by Executive Technical Director Nili Shah featuring IASB Chair Andreas Barckow and IASB Vice-Chair Linda Mezon-Hutter discussing the deliberations at the January 2024 IASB meeting.

  • ISSB Image
  • ISSB issues January 2024 podcast

    Jan 30, 2024

    On January 30, 2024, the IFRS Foundation released a podcast hosted by ISSB Chair Emmanuel Faber and Vice-Chair Sue Lloyd discussing the latest developments from the ISSB.

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    ISSB Image
  • Updated IASB and ISSB work plan — Analysis (January 2024)

    Jan 29, 2024

    Following the IASB's and ISSB's January 2024 meetings, we have analysed the work plan on the IFRS Foundation website to see what changes have resulted from the meetings and other developments since the work plan was last revised in December 2023.

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    ISSB Image
  • IASB and ISSB emphasize connectivity in joint technical meeting

    Jan 25, 2024

    On January 25, 2024, the IASB and ISSB held their inaugural joint technical meeting in London. The meeting centered around feedback on the ISSB’s priorities for the next two years, focusing on potential projects for integrating financial and sustainability reporting.

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  • Thinktwenty20 – Winter 2024 Issue Image
  • Thinktwenty20 – Winter 2024 Issue

    published Feb 20, 2024

    This winter issue covers a diverse array of topics at the intersection of technology, finance, and ethics. From the integration of artificial intelligence into regulatory processes at the SEC to discussions on safeguarding controversial uses of cryptocurrency assets, the magazine delves into timely and pressing issues. Additionally, it explores the nuances of defining desirable outcomes in AI-driven creative processes and contrasts different problem-solving approaches, also while offering an insightful book review to broaden readers' perspectives.

  • Finance Executives Face Challenges in Commercial Real Estate Image
  • Finance Executives Face Challenges in Commercial Real Estate

    published Feb 12, 2024

    With the current US office vacancy rate surpassing that of the Great Recession, commercial real estate companies face uncertain prospects. CFO Insights delves into the challenges confronting these CFOs and the continuing repercussions of this downturn in the market.

  • 2023/2024 Audit Quality Report: The evolution of great   Image
  • 2023/2024 Audit Quality Report: The evolution of great

    published Feb 09, 2024

    Our 2023/2024 report highlights the evolution of how we create the conditions within our firm for every audit we complete, to be of the highest quality. We do not strive for “compliant”, we strive for “great” in our role as quality leaders. Our report highlights the evolution of a number of investments that we have made over the year and how we anticipate and embrace future change.

  • Heads Up — SEC Issues Final Rule Related to SPACs, Shell Companies, and Projections Image
  • Heads Up — SEC Issues Final Rule Related to SPACs, Shell Companies, and Projections

    published Feb 06, 2024

    This Heads Up discusses the SEC’s recent issuance of a final rule on financial reporting and disclosures for special-purpose acquisition companies (SPACs). The final rule aims to (1) “enhance investor protections” in SPAC initial public offerings (IPOs) and de-SPAC transactions and (2) “more closely align the treatment of private operating companies entering the public markets through de-SPAC transactions with that of companies conducting traditional IPOs.”

  • Time to rethink talent in the boardroom Image
  • Time to rethink talent in the boardroom

    published Jan 31, 2024

    The report explores the evolving role of organizations in society, facing numerous pressures like new technologies, climate action, and changing expectations. It focuses on how boards are addressing talent and workforce challenges, highlighting a perceived need for them to be more proactive in this area. While balancing these discussions with other board priorities could be challenging, it's crucial for building a strong and adaptable workforce for the future.

  • Living in
  • Living in "interesting" times: The 2024 board agenda

    published Jan 31, 2024

    The article delves into the potential challenges and opportunities boards might encounter in 2024. It paints a picture of a dynamic year characterized by geopolitical tensions, economic uncertainties, and rapid advancements in technology, particularly generative artificial intelligence (GenAI) and data transformation. Boards are urged to navigate this "interesting" landscape with agility and robust enterprise risk management (ERM) programs.

  • Critical audit matters: A three-year review Image
  • Critical audit matters: A three-year review

    published Jan 31, 2024

    This report examines how a new auditing standard, AS 3101, addresses a gap in investor information. Historically, investors lacked understanding of complex judgments made during audits. AS 3101 bridges this gap by requiring auditors to disclose "critical audit matters" - key areas involving challenging judgments - in their reports. This enhances transparency, empowers investors with deeper risk insights, and improves overall market efficiency.

  • World Economic Outlook; Moderating Inflation and steady growth open path to soft landing Image
  • World Economic Outlook; Moderating Inflation and steady growth open path to soft landing

    published Jan 29, 2024

    Global growth is picking up pace, with a projected 3.1% in 2024 and 3.2% in 2025. However, this remains below historical averages due to ongoing challenges like high interest rates and weak productivity. While inflation is decreasing faster than expected, potential risks like geopolitical shocks and domestic economic issues loom. Policymakers need to navigate inflation reduction, fiscal consolidation, and structural reforms, while international cooperation is crucial for debt management, investment, and climate action.

  • SEC Enhances SPAC-Related Requirements Image
  • SEC Enhances SPAC-Related Requirements

    published Jan 24, 2024

    The SEC's new rule seeks to enhance investor protection in SPACs (blank check companies) and their mergers with private companies. It mandates clear disclosures on conflicts of interest, sponsor compensation, potential dilution, and other investor-critical information throughout the entire process. Additionally, companies must reveal more details about the target company, empowering investors to make informed decisions when voting or investing. This rule aims to address transparency concerns surrounding SPACs and enhance overall investor confidence.

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