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IASB proposes guidance on 'management commentary'

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23 Jun 2009

The IASB has issued an exposure draft (ED) of proposed non-mandatory guidance for preparing and presenting a 'management commentary' – sometimes called 'management's discussion and analysis' or 'operating and financial review'.

In a management commentary, which normally accompanies but is not part of the financial statements, management explains how the entity's financial position, financial performance and cash flows relate to management's objectives and its strategies for achieving those objectives. The proposals in the ED draw on international best practice in the preparation and presentation of management commentary. The IASB believes that providing non-mandatory guidance will improve the consistency and the comparability of management commentary across jurisdictions.

The ED Management Commentary is open for comment until 1 March 2010. Click for IASB Press Release (PDF 97k). Here is the IAS Plus Project Page.

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