LATEST MATTERS FROM THE INTERNATIONAL ACCOUNTING STANDARDS BOARD (IASB) The following is a summarised update of key matters arising from the discussions and decisions taken by the IASB at its meetings on the following dates: 25 January 2022 25 February 2022 24 March 2022 The full update, as published by the IASB, can be found here. Primary Financial Statements The IASB continued discussions on proposals in the exposure draft General Presentation and Disclosures published in 2019. This exposure draft seeks to improve...

What does ESG really mean for corporates in 2022? We have teamed up with leading ESG advisors at Cardano, Georgeson and Kekst CNC to draw together our insights in a guide that provides a 360° response to this question, and to help clients respond holistically to the ESG issues and opportunities they currently face. ESG Perspectives: A 360° view of key ESG issues and opportunities for corporates in 2022 Environmental, social, and governance (ESG) considerations are increasingly central to every aspect...

Today, the European Commission and the European Investment Bank (EIB) signed an ambitious Guarantee Agreement through which the European Commission will support up to €26.7 billion of EIB financial operations to enable crucial public investments in sectors like clean energy, digital and transport infrastructure, health and education over the next seven years, rolling out Global Gateway worldwide. Commissioner for Neighbourhood and Enlargement, Olivér Várhelyi, said: “Today’s landmark guarantee agreement with the European Investment Bank will enable to finance the implementation of our...

Speech by William R. Rhodes at the China-US Business Alliance on 04 May, 2022 | Thank you, John, for the very kind introduction.  I always enjoy having the opportunity to speak to this group.  Some of you may have seen my recent op-ed on the major threats to China’s economy which I will discuss today.  As we all know, China is the world’s 2nd largest economy and over the last decade the fastest growing major one in the world. This is...

In this week’s Roar: the latest news on ports, shifting ocean carrier alliances, potential changes for US/ China tariffs, the state of US intermodal, and easing container demand. Port performance on the US West Coast is not improving as we move closer to the vital peak shipping season. There’s a lot of bad news that’s going to translate into even higher costs for the consumer. A recent report states that 20% of the global container fleet is mired in congested...

On April 28, 2022, the Court of Justice of the European Union (CJEU) held that a consumer protection association had standing to bring claims on behalf of consumers whose personal data was used in a manner that infringes on provisions of the GDPR. The key issue put to the CJEU was whether national legislation permitting a consumer protection association to bring proceedings in the civil courts against infringements of GDPR was valid: (1) independent of the specific infringements of...

After only 18 months of negotiations, the European Parliament and EU Member States finally reached an agreement on the Digital Services Act (DSA), a new set of rules that increases companies’ responsibility for the content that their users upload. The breakthrough was announced by the Executive Vice-President and Commissioner for Competition and digital policy, Margrethe Vestager, on Twitter in the early hours of Saturday morning after a final marathon of negotiations. “We have an agreement on DSA: the Digital Services...