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So who knows folks at the IFRS?

Submission of comment to this consultation was not made easy. Despite that my review of the 576 comments submitted suggests that 93 (at least) were based in the submission that my colleague Professor Adam Leaver of the University of Sheffield and I made early in in the consultation process.

Some of those commenting came directly from those whose names I recognise from this blog.

I appreciated the joint submission from Caroline Lucas MP and Clive Lewis MP (to evidence a nice bit of cross party working).

But I admit most came because Extinction Rebellion adopted the message that we were making.

But what this suggests is that about one in six of the submissions to the IFRS on this issue agreed on a number of key issues.

So, it’s a ramp, a deliberate attempt to crowd the IFRS consultation. Anyone know anyone inside that organisation who can be reminded of this? So as to apply the correct level of importance to these cookie cutter replies?

11 thoughts on “So who knows folks at the IFRS?”

  1. When I was on local government Planning, it was a standard requirement for all bulk petitions to be treated as a single submission. Entirely the opposite of that Not The Nine O’Clock News union tea break sketch.

  2. They tend to analyse the responses by type of respondent. Because IFRSs are primarily for investors, responses from investors will get most attention. Responses from the general public, particularly if they look to have been ‘seeded’ by one particular person, rather less attention. They will be grouped into a single submission, as jgh says.

  3. He does this a lot. I’m tempted next time he does it to join in, starting my submission with “I don’t really understand this but Richard Murphy told me to send this in” and “and he has said this about your organisation” before adding a few of whatever insults it is he’s thrown at the body in question.

  4. Dennis, CPA to the Gods

    I have a funny feeling that IFRS knows who Richard Murphy is and are aware of his nonsense.

    It’s worth noting that it seems Murphy and his gang misunderstand the purpose of the comments phase of the process. What IFRS is usually looking for is feedback on the technical aspects of particular issues. Grand policy pronouncements and positions don’t fall into that category.

    Besides, we are talking about “sustainable accounting” here, which Murphy has spent a lot of time yammering about and very little time actually attempting to develop. It’s going to take a lot more than 93 comments to get IFRS on board for his sort of nonsense.

    Plus, if Murphy isn’t a red flag to them, Caroline Lucas sure as shit will be one.

  5. Off topic, I know, but I thought you would all enjoy this response I got from a column comment elsewhere, where I suggested that socialism had a fundamental economic misapprehension:

    “…Complete and utter claptrap.
    It is always has been and always will be your beloved ONE TRUE NASTY PARTY FILTH that are completely incapable of running anything, properly or competently let alone the country’s economic prosperity. The ONE TRUE NASTY PARTY FILTH are the party of massive borrowing, high unemployment, low wage economy FACT.
    As Labour Governments on the whole borrow much less, have lower unemployment, with higher wage economy, and pay off more of the ONTRUE NASTY PARTY FILTH debt in one parliamentary term than the ONE TRUE NASTY PARTY FILTH have repaid in 4 parliamentary terms….”

  6. Sounds like the response I got from that doctor who policised his father’s death at the weekend. I asked why he hadn’t fallen back on the health care systems of his favoured countries, Egypt, India and Congo. He went ape.

  7. I assumed he was throwing the title sustainable accounting around so he could claim to have invented it alongside CbC reporting

  8. Dear Mr Worstall

    “… the joint submission from Caroline Lucas MP and Clive Lewis MP (to evidence a nice bit of cross party working).”

    It would be difficult for Ms Lucas mp to do anything but cross party working.

    Whilst checking to make sure I hadn’t missed another green mp, I came across this on the green party website:

    “Elected Greens
    Green representation is increasing at all levels of government.

    At the start of 2019 the Green Party currently had the following elected members in England and Wales:

    two members of the House of Lords (Jenny Jones and Natalie Bennett)
    two London Assembly members (Caroline Russell and Siân Berry)
    362 councillors on 120 councils across England and Wales”

    Seems Ms Lucas mp isn’t an elected green, and I’ve missed every election for the house of lords.


  9. In his latest video, he’s claiming that accounts “are prepared on the assumption that the organisations in question are … only of real concern to their shareholders and suppliers of capital.”

    This is plain wrong. IFRS recognises that accounts have lots of users. But they believe the needs of those users can largely be satisfied by having financial reporting standards that are primarily prepared with investors in mind.

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