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Heads Up: IASB Issues Practice Statement on Management Commentary

Volume 17, Issue 44

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The attached issue of Heads Up discusses the recent IASB Practice Statement, Management Commentary, which "sets out the principles, qualitative characteristics and elements of management commentary that are necessary to provide users of financial reports with useful information." The practice statement presents a general, nonbinding framework. That is, it is not a formal standard that entities reporting under IFRSs are required to comply with.

Read more in the file attached below or visit the Heads Up Archive for past issues.

Heads Up and other information on accounting and financial disclosure also can be found in the Technical Library: The Deloitte Accounting Research Tool. Technical Library, a subscription-based research tool, includes material from the Financial Accounting Standards Board (FASB), Emerging Issues Task Force (EITF), AICPA, Securities and Exchange Commission (SEC) and International Accounting Standards Board (IASB), in addition to our own accounting manual and interpretive accounting guidance. Updated every business day, the Technical Library has an intuitive design and navigation system. Powerful search features enable users to locate information quickly, at any time and from any computer. Additionally, Technical Library subscribers receive periodic e-mails highlighting recent additions to the Technical Library.