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Management Commentary – International Accounting Standards Board

Date recorded:

At its meeting on October 27-29, 2020, the IASB met to discuss: (a) an overview of the Board’s proposals intended to promote provision of information in management commentary on matters that could affect an entity’s long-term prospects, on intangible resources and relationships, and on environmental, social and governance (ESG) matters; (b) an initial assessment of the likely effects of implementing the Board’s proposals for revising IFRS Practice Statement 1, Management Commentary (Practice Statement); and (c) due process steps and permission to begin the balloting process for the exposure draft of the revised Practice Statement. The staff will prepare the Exposure Draft for balloting. The Board expects to publish the Exposure Draft in April 2021. At a future meeting, the Board plans to discuss a comment letter period for the Exposure Draft.

Review the IASB Update and podcast on the Board's Web site.

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