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Management commentary

Date recorded:

Project update (Agenda Paper 15)


In November 2017, the Board added a project to its agenda to update IFRS Practice Statement 1 Management Commentary (PS). In undertaking the project, the Board will consider how broader financial reporting could complement and support IFRS financial statements.

In this session, the staff provided an update on the project and inform the Board about the planned next steps.

In March 2018, the Board announced its plans to form the Management Commentary Consultative Group (Consultative Group). Its members were announced on 10 July 2018.

In addition, the staff reached out to national standard-setters with a request to provide information about the requirements and commonly applied non-mandatory guidance on management commentary that apply to listed companies in their respective jurisdictions. The staff will use the information received through the survey in their analysis and in developing the agenda papers for the Consultative Group.

The staff anticipate the following work streams:

  • (a) Objectives and principles of management commentary reporting
  • (b) Current year financial analysis and forward-looking information
  • (c) Business model, strategy, risks, and operating environment and information about operational performance

An Exposure Draft for a revised Practice Statement can be expected in 2020.

Staff recommendation

The staff did not recommend any decisions in this session.


There was no significant discussion in this session.


No decisions were made.

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