MNP Comment Letter - Business Combinations - Disclosures, Goodwill and Impairment Discussion Paper (International)

Category: IFRS

MNP Comment Letter - Business Combinations - Disclosures, Goodwill and Impairment Discussion Paper (International)

 

Excerpt

Thank you for the opportunity to comment on the above DP. MNP LLP (“MNP”) supports initiatives to improve the information entities provide to stakeholders, including information about the acquisitions those entities make.

The proposals would apply to all entities that prepare financial statements in accordance with International Financial Reporting Standards (“IFRS”). In Canada, a wide range of entities prepare their financial statements in accordance with IFRS, including public and private entities, government business enterprises, government business partnerships and other government organizations and not-for-profit organizations.

Additionally, Canada has many small to mid-size entities (“SME”s) who file financial statements prepared in accordance with IFRS with the Securities and Exchange Commission (“SEC”). For these entities, it is important that the SEC’s regulations continue to allow IFRS compliant financial statements. We recommend that the IASB communicate with the SEC to identify and address any concerns they have with the proposed changes that could affect the ability of foreign issuers to file IFRS compliant financial statements with the SEC.

MNP Comment Letter - Business Combinations - Disclosures, Goodwill and Impairment Discussion Paper (International)

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Michelle Balmer

Michelle Balmer CPA, CA

Vice President, Assurance

Michelle Balmer, CPA, CA, is a Senior Assurance Services Partner with MNP. With 14 years of experience in public practice, Michelle helps a broad range of public and privately held companies in a variety of industries. She also works on special projects, including costing studies, benchmarking and best-practice studies, operational analyses, litigation support and due diligence.

As a key member of MNP's Assurance team, Michelle has played an instrumental role in assurance policy development, implementing accounting and assurance standards firm-wide and educating assurance practitioners regarding methodologies and new pronouncements. She also provides technical advice and consultation on accounting and assurance issues, as well as on rules of professional conduct issues, to all MNP practitioners.

Michelle was certified a Chartered Accountant (CA) after obtaining a Bachelor of Commerce degree from the University of Alberta. She has been actively involved with the Institute of Chartered Accountants of Alberta, including the Chartered Accountants School of Business, in an instructional and marketing capacity. An avid volunteer, she has assisted numerous groups such as the Easter Seals of Alberta, Paralympic Sports Association and Junior Achievement of Northern Alberta.