Global Standards for the world economy

Monday 13 July 2020

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Work plan for IFRSs

Management commentary


Project milestones


This project has been completed. On 8 December 2010 the IASB issued the IFRS practice statement Management Commentary. The practice statement provides a broad, non-binding framework for the presentation of management commentary that relates to financial statements prepared in accordance with IFRS.

The practice statement is not an IFRS. Consequently, entities are not required to comply with the practice statement, unless specifically required by their jurisdiction.

Management commentary is a narrative report that provides a context within which to interpret the financial position, financial performance and cash flows of an entity. It also provides management with an opportunity to explain its objectives and its strategies for achieving those objectives. Management commentary encompasses reporting that jurisdictions may describe as management’s discussion and analysis (MD&A), operating and financial review (OFR), or management’s report.



Project news

8 December 2010 The IASB has published an IFRS practice statement Management Commentary a broad, non-binding framework for the presentation of narrative reporting to accompany financial statements prepared in accordance with IFRSs - click here for details

3 December 2010 On Thursday 16 December staff of the IASB will present two webcasts about the IFRS Practice Statement Management Commentary.  Click here for more details.

8 September 2010 This project will be discussed by the Board at their September 2010 meeting. For more information and observer notes as they become available, please click here

Click here to see all previous project news on this project.


Last IASB meeting update

14 September 2010 The Board instructed the staff to begin the process to publish the final document for management commentary. The exposure draft Management Commentary was published in June 2009.

Click here  to view the full update and to access all previous IASB updates on this project.

Click here to listen to the IASB meeting audio playback.


Next discussion by the IASB

Discussions of this project have finished. This project is now complete.


Page last updated: 11 March 2011 

Related information

Listen to a podcast about the IFRS Practice Statement Management Commentary

Listen to the webcast on 16 December introducing IFRS Practice Statement

Project contact

Allison McManus
Technical Manager