IASB discussion paper on 'management commentary'
The IASB has published a discussion paper on Management Commentary that assesses the role the IASB could play in improving the quality of the management commentary that accompanies financial statements.
Management commentary is sometimes called 'management discussion and analysis' or 'operating and financial review'.
The discussion paper was prepared for the IASB by staff of its partner standard-setters from Canada, Germany, New Zealand, and the United Kingdom. The paper reviews existing national requirements or principles on management commentary and offers recommendations on how the IASB might promote the wider adoption of best practice in the interests of investors and others who use financial reports.
While the IASB has discussed the paper, it has not yet developed tentative views on the authors' recommendations. The IASB invites comments on the discussion paper by 28 April 2006. IASB subscribers can access the discussion paper now on the IASB's Website. It will be available to all without charge starting 7 November. Click for IASB Press Release (PDF 61k).