IASB Discussion Paper on Management Commentary

27 October 2005

The International Accounting Standards Board (IASB) published a Discussion Paper that assesses the role the IASB could play in improving the quality of the management commentary that accompanies financial statements. The Paper reviews the requirements or principles that many jurisdictions have developed on management commentary and offers recommendations on how the IASB might promote the wider adoption of best practice in the interests of investors and others who use financial reports.

The IASB is currently discussing if has discussed the Discussion Paper but has yet to develop tentative views on the authors’ recommendations. However, it has agreed that if it adds this project to its agenda it will regard the Discussion Paper as the first stage in its due process. In that case, the IASB could publish an exposure draft as the next phase of such a project.

Deadline for comments is 28 April 2006.

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