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IFRS in Focus — IASB issues practice statement on management commentary

Published on: Dec 16, 2010

On December 8, 2010, the International Accounting Standards Board (IASB) issued Practice Statement Management Commentary. The Practice Statement is not an IFRS and therefore an entity does not need to comply with it in order to comply with International Financial Reporting Standards (IFRSs). However, management should explain the extent to which the Practice Statement has been followed.


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