The issuance of cryptocurrency has become more common as a capital raising mechanism, which has caused considerable attention to be paid to cryptocurrency offerings by both the investing public and the governmental authorities responsible for securities regulation in various jurisdictions around the word.

The Canadian approach to cryptocurrency offerings appears to be to apply the current regulatory system for securities to the offerings, once the test for a security has been met on the basis of the individual set of facts related to the type of cryptocurrency and the offering itself.

Review the bulletin on McMillan LLP's website.

The requirements in IFRS 9, Financial Instruments are different from those in IAS 39 in many aspects, and for some, it will result in a significant change in the information provided in the financial statements. High quality disclosures are important for investors and others to understand what has changed in the transition from IAS 39 to IFRS 9, and to understand the basis for the new amounts reported in the financial statements.

Review the press release and webcast on the IASB’s website.

The International Integrated Reporting Council (IIRC) and the Institute of Chartered Accountants of Scotland (ICAS) published a new report describing how businesses can achieve Sustainable Development Goals (SDGs). The report argues that corporate reporting frameworks can play a critical role in enhancing corporate contribution to the SDGs.

The World Business Council for Sustainable Development (WBCSD) launched the Reporting Exchange, a free, online platform designed to help businesses find trustworthy, up to date and accessible sustainability-related information – making it easier for businesses to know what, when and how to report.

The Sustainability Accounting Standards Board (SASB) opened its full suite of sustainability reporting guidelines to public comment. The exposure drafts, which impact 79 industries, are open for a 90-day public comment period.

Discussion points included:

• Structure of the IESBA Code
• Safeguards
• Part C of the IESBA Code
• Professional Skepticism

Review the highlights and the podcast on the IESBA's Web site.

To facilitate small, local financings by Alberta-based start-up businesses, the ASC adopted ASC Rule 45-517 in the summer of 2016. In response to the recently announced amendments to B.C. Instrument 45-535 Start-up Crowdfunding Registration and Prospectus Exemptions, the ASC has updated its Companion Policy 45-517 to clarify how cross-border financings into B.C. are possible and outline how ASC Rule 45-517 and B.C. Instrument 45-535 work together.

Review the press release on the ASC's website.

The working drafts address the following topics:

• Timing and classification of commissions in interline transactions (airlines)
• Changes in volume of mileage credits under a co-branded credit card arrangement (airlines)
• Reporting asset management arrangement revenue: gross versus net (asset management)
• Contract costs (construction)
• Loyalty co-branding arrangements (gaming)
• Accounting for racetrack fees (gaming)
• Risk sharing arrangements (health care)
• Revenue recognition of sales of oil and gas (oil and gas)
• Inventories (oil and gas)
• Joint operating agreements (oil and gas)
• Derivative commodity contracts (oil and gas)
• Disclosures (oil and gas)
• Determining the stand-alone selling price for commodities (power and utilities)
• Accounting for blend-and-extend contract modifications (power and utilities)
• Partial terminations (power and utilities)
• Timing of revenue recognition related to sales of electricity and capacity (power and utilities)
• Timing of revenue recognition related to sales of self-generated renewable energy credits (power and utilities)
• Treatment of contributions in aid of construction (power and utilities)
• Income statement presentation of alternative revenue programs (power and utilities)
• Wireless transactions within the indirect channel (telecommunications)

Comments on the working drafts are due by December 1, 2017. For more information, see the revenue recognition page on the AICPA’s Web site.

The 2017 IFRS taxonomy is identical to the one issued by the IFRS Foundation on March 9, 2017 and is consistent with IFRSs issued by the IASB as of January 1, 2017.

Review the press release on the SEC’s Web site.

This webcast is hosted by IASB Board member, Darrel Scott, and addresses four implementation questions raised by stakeholders.

Review the press release and webcast on the IASB’s website.

The research outlines the principal elements of the 28 Member States’ laws, and will provide insight on the direction non-financial reporting is headed in Europe. The November 22 event will address how the implementation of the Directive can positively contribute to the integration of sustainability factors into companies.

For more information and registration, visit the Accountancy Europe's website.

The Exposure Draft Standards for 79 industries in 11 major sectors will be open for feedback, from corporate professionals, market participants, and public interest and intermediary stakeholders.

The SASB’s Standards are for use by U.S. and foreign public companies in their disclosures to investors, such as in annual reports and filings with the U.S. Securities and Exchange Commission (SEC), including Forms 10-K, 20-F, 40-F, 10-Q, 8-K, as well as S-1 and S-3. The SASB Standards identify sustainability topics that are reasonably likely to constitute material information for a company within a particular industry.

Review an article and the Exposure Draft on the SASB's website.