IASB publishes Exposure Draft on Management Commentary

The IASB has published Exposure Draft on Management Commentary.

The proposed framework represents a major overhaul of IFRS Practice Statement 1: Management Commentary.

The proposed framework sets out disclosure objectives for information about the company’s business model, strategy, resources and relationships, risks, external environment and financial performance and position. The disclosure objectives are designed to enable companies to identify and provide information that is material to investors, and to enable regulators and auditors to assess compliance with the proposed framework.

Entities are not required to provide management commentary by IFRS standards. The Exposure Draft does not change this requirement.

The Exposure Draft may be accessed here. Comments are requested by 23 November 2021.