EFRAG draft comment letter on the IASB's exposure draft on management commentary

  • EFRAG (European Financial Reporting Advisory Group) (dk green) Image

28 Jul 2021

The European Financial Reporting Advisory Group (EFRAG) has issued a draft comment letter on the IFRS Practice Statement Exposure Draft ED/2021/6 'Management Commentary'.

The exposure draft intends to update the 2010 IFRS Practice Statement 1 Management Commentary. In its draft comment letter, EFRAG supports the “proposed objective-based approach including the six content elements and considers that developing specific, rule-based requirements for the management commentary is primarily the responsibility of legislators, security regulators and/or national standard-setters.  However, EFRAG suggests to address the subject of 'Governance' across the six proposed content elements, to give more emphasis​ to the discussion on 'Opportunities' and to consider an additional content element on 'Off-balance sheet commitments'.​”

Comments on EFRAG's draft comment letter are requested by 15 November 2021. For more in­for­ma­tion, see the press release and the draft comment letter on the EFRAG website.

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.