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Management Commentary

Date recorded:

Comment letter summary

Staff summarised the 102 comment letters received on the exposure draft. Most respondents were supportive of the project as they consider it to provide decision-useful information for users. A minority did not support the project as they don't see management commentary as within the boundaries of financial reporting and, therefore, not within the IASB's remit.

The majority of those that support the project also support the decision to issue a guidance document instead of an IFRS as this will avoid duplication and inconsistencies with existing legislative requirements in various jurisdictions.

Some Board members were surprised to learn that a portion of respondents would like the Board to issue an IFRS on management commentary. Overall, the Board was very pleased with the good degree of feedback and support it received on the exposure draft and requested the staff to continue their analysis of the comment letters and present something at the July meeting on the future direction of the project.

Correction list for hyphenation

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