PDFs are now directly available again, however, you have to revisit the IASB news item or other place in the site where you orig­i­nally found the document.

The guide­lines propose that any company should disclose relevant in­for­ma­tion on the actual and potential impacts of its op­er­a­tions on the en­vi­ron­ment, and on how current and fore­see­able en­vi­ron­men­tal matters may affect the company. Greater and more relevant trans­parency is expected to lead towards a major reduction of green­house gas emissions and cli­mate-re­silient growth and jobs.

The following documents are available on the EC website:

• Press release
• Fre­quently asked questions
• Guide­lines on non-fi­nan­cial reporting (pro­vi­sional version)

"Brian has provided exemplary leadership to CPAB since becoming CEO in 2009, and has been instrumental in CPAB achieving and maintaining its position as a leading, world-class audit regulator", Mr. Le Pan said. “He has driven improvements in audit quality in Canada and has championed involvement by the profession, the director community, regulators, and public company issuers in enhancing audit quality. This has materially added to public confidence in financial reporting, which is essential to investors and other users of financial statements”. On behalf of the Board and staff I thank Brian for his contribution”, Mr. Le Pan added.

“Over the past nine years we have accomplished a lot at CPAB” said Mr. Hunt. “We have been successful because of the quality of our staff and support of the Board. It has and will continue to be a pleasure to work with all of you. After nine years as CPAB CEO it is time to open a new chapter in my career.”

As part of the planned succession, the Board of CPAB has retained an executive search firm to assist in the process.

Re­view the press release on the CPAB's web­site.

General remarks

On moving to the new website, the IASB made several changes to the pre­sen­ta­tion of the work plan:

• The new format has gone back to in­di­cat­ing exact timing - by in­di­cat­ing the half year, quarter or even month a de­vel­op­ment is expected to occur. This is much to be lauded, since it makes tracking de­vel­op­ments (and progress and delay) much easier for users.
• The new work plan has slightly changed cat­e­gories: stan­dard-set­ting projects, main­te­nance projects, research projects, and other projects. Taxonomy projects have become "other"; post-im­ple­men­ta­tion reviews are now "research".
• The IASB has split up the annual im­prove­ment process into in­di­vid­ual "projects". Although the idea is still to treat certain im­prove­ments through the annual im­prove­ments process, it can no longer be traced on the face of the work plan whether a project is part of the annual im­prove­ment process and which cycle it belongs to. The ex­pec­ta­tion is that the IASB wants to allow itself more flex­i­bil­ity in deciding which im­prove­ment goes into which cycle.
• The IASB has stopped dating its work plan and there is no longer a PDF version of the work plan available. There a many minor changes between Board meetings (down to spelling) and to report on every little change would distract from the big picture. The intention is therefore to continue to analyze changes on a monthly basis i.e.,after each meeting.

Below is an analysis of all changes made to the work plan since the last update in May 2017. For this analysis, changes have been ignored where the "within three months" to "after six months" clas­si­fi­ca­tion trans­lated smoothly into the new format of fixed dates.

Stan­dard-set­ting projects

• Dis­clo­sure ini­tia­tive — Ma­te­ri­al­ity — both, the exposure draft on the de­f­i­n­i­tion of ma­te­ri­al­ity and the practice statement on ma­te­ri­al­ity, are now expected in September 2017 (was: June 2017)
• Changes in accounting policies and estimates — an exposure draft is now expected in September 2017 (was: June 2017)

Main­te­nance projects

• De­f­i­n­i­tion of a business — this project was to see a decision on the project direction within 3 months and will now see final amend­ments in H1 2018
• Clar­i­fi­ca­tions arising from the post-im­ple­men­ta­tion review of IFRS 8 — this project was to see a decision on the project direction after 6 months, however, as the next project step a feedback statement on the exposure draft in Q4 2017 has been inserted
• IFRS 9 — Pre­pay­ment features with negative com­pen­sa­tion — this project was to see a decision on the project direction within 3 months and will now see final amend­ments in Q4 2017
• IAS 16 — Proceeds before intended use — a feedback statement on the exposure draft is expected in Q4 2017

Research projects

• Goodwill and im­pair­ment — this project was to see a decision on the project direction after 6 months and will now see a dis­cus­sion paper in H1 2018
• Post-im­ple­men­ta­tion review — IFRS 13 — this project is now con­sid­ered a research project
• Post-im­ple­men­ta­tion review — IFRS 10-12 — this project is no longer appears in the IASB work plan (was supposed to be initiated after 6 months)
• Dis­clo­sure ini­tia­tive — Prin­ci­ples of dis­clo­sure — this project was to see a decision on the project direction after 6 months and will now see a feedback statement on the dis­cus­sion paper in H1 2018

Other projects

• proposed taxonomy update regarding common practice in con­nec­tion with IFRS 13 — expected in H1 2018
• proposed taxonomy update on IFRS 17 — this project was to see a final update is expected within six months, however, as the next project step a feedback statement on the proposed update in Q4 2017 has been inserted

The above is a faithful com­par­i­son of the IASB work plan at May 18, 2017 and at June 28, 2017. For access to the current IASB work plan at any time, please click here.

Some companies have shifted capital raising activities to the private markets, where many Main Street Americans have limited access. High-quality companies may choose to go public at a later stage, after much of their early growth has already been achieved. Other companies may choose to stay private. 

In his speech, Mr. Clayton remarks that under his direction and the direction of Bill Hinman, Director of the Division of Corporation Finance, the SEC staff is actively exploring ways in which they can improve the attractiveness of listing on our public markets, while maintaining important investor protections. He looks forward to hearing the views of the panelists – not only on the causes of the decline in IPO activity and the substantial decline in the number of public companies, but also on potential ways to reverse those trends. He expects that the Committee will have valuable recommendations on this topic.

Review the speech on the SEC's website.

The webinar — hosted by insurance contracts team members Joanna Yeoh and Andrea Pryde — discusses the scope of IFRS 17.

The webinar and slides are available on the IASB's website.

As Corporations Canada points out, Bill C-25 makes three important changes to how corporations are governed and regulated: it gives shareholders the ability to vote against directors, changes how documents for shareholder meetings are to be sent to and accessed by shareholders, and requires certain corporations to report the diversity of their directors and senior management.

The biggest change that Bill C-25 would bring about is the first one, giving shareholders the ability to vote against directors. "Currently, shareholders can either vote for a director or withhold their vote," states an article by PLLR Lawyers. "In situations where only one person is vying to fill a vacancy on the board of directors, just a handful of 'for' votes can get that person elected." If C-25 passes, a majority of "against" votes would result in that individual not getting elected.

Review Bill C-25 on the Parliament of Canada's website and an article on Pryke Lambert Leathley Russell LLP's website.

IAS 16 establishes principles for recognizing and measuring items of property, plant and equipment as assets.

The proposed amendments would prohibit deducting sales proceeds from the cost of an item of property, plant and equipment while that asset is being made available for use. Instead, the company would recognise those sales proceeds and related costs in profit or loss.

The proposed amendments are put forward following discussions of the IFRS Interpretations Committee on accounting for proceeds and costs of testing.

This Exposure Draft ED/2017/4 Property, Plant and Equipment—Proceeds before Intended Use (Proposed amendments to IAS 16) is open for comment until October 19, 2017.

Review the press release and Exposure Draft on the IASB's website.

Review the press release on the IASB's website.

The report summarizes capital raising activity by corporate (non-investment fund) issuers in Ontario’s exempt market during 2015 and 2016. Additionally, the report examines capital formation by small Canadian issuers in Ontario’s exempt market, and the impact of recently introduced prospectus exemptions.

The report revealed increased activity in Ontario’s exempt market, especially among Canadian issuers and among small businesses.

The report also found that the new prospectus exemptions have gained traction among a sizeable proportion (25 per cent) of Canadian issuers participating in the exempt market.

Review the press release and the Staff Notice on the OSC's website.