Management commentary

Date recorded:

Comment letter period (Agenda Paper 15)

In October 2020, the Board gave the staff permission to ballot the Exposure Draft (ED) to revise Practice Statement 1 Management Commentary. The Board normally allows 120 days for an ED. However, given the current pandemic environment, in addition to forthcoming consultations from the IFRS Foundation (IFRSF) Trustees on the IFRSF Constitution, the staff considered a longer period. On the other hand, having a longer comment period could delay the urgently needed revision of the Practice Statement.

The staff therefore ask the Board whether they prefer a 120-day comment period or a longer comment period, and if yes, how long.

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