The Bruce Column — Sunshine and the ideas behind management commentary
May 25, 2017
The concept of management commentary has long been perceived by the IASB like a worrying cloud hovering over financial reporting. But the sun may be about to break through. A speech by Hans Hoogervorst, Chairman of the IASB, looks likely to have confirmed that the weather has changed, reports regular columnist, Robert Bruce.
The <IR> framework has become widely adopted and the UK’s guidance on the concept of a strategic report is seen as mainstream. In Hans Hoogervorst’s words: "They put more emphasis on interconnectivity among elements of an integrated report’" They look at "how developments in the external environment have affected a company’s business model and strategy’" he said. It is time for change. Now more than ever people need integrated reporting-style reporting.
Read the entire column on our Global IAS Plus site.