IASB Exposure Draft on Management Commentary

The International Accounting Standards Board (IASB) has issued Exposure Draft on type of disclosure labelled Management Commentary with the objective of determining whether the framework for the preparation and presentation of management commentary proposed in the exposure draft would improve the usefulness of the information provided in an entity’s financial reporting and help users of financial reports make decisions in their capacity as capital providers.

Invitation to comments

ASB invites comments on the said Draft from the public. The downloadable version of the draft is available at http://www.iasb.org/NR/rdonlyres/53DC9B3B-34A5-400F-B4B5-4F2FF24F231E/0/EDManagementCommentary.pdf. Comments would be most helpful if they indicate the specific paragraph or group of paragraphs to which they relate, contain a clear rationale and, where applicable, provide a suggestion for alternative wording.

Comments should be submitted in writing to the Secretary, Accounting Standards Board, The Institute of Chartered Accountants of India, ICAI Bhawan, Post Box No. 7100, Indraprastha Marg, New Delhi-110002, so as to be received not later than January 15, 2010. Comments can also be sent by e-mail at asb @ icai.org or edcommentsasb @ icai.org.