MASB adopts statement of principles on management commentary
01 Mar 2013
The Malaysian Accounting Standards Board (MASB) has issued Statement of Principles 3 'Management Commentary' (SOP 3), which is equivalent to the IASB IFRS Practice Statement 'Management Commentary'.
The issue of SOP 3 follows a formal consultation process begun in May 2012. Consistent with the IASB IFRS Practice Statement, the SOP provides non-mandatory guidance for Malaysian entities opting to to accompany financial statements with management commentary, setting out the principles, qualitative characteristics and elements of management commentary.
Click for MASB press release (link to MASB website).
