16-11-2009 | EFRAG has issued its draft comment letter to the IASB's ED 2009/6 Management Commentary

EFRAG has issued its draft comment letter on the IASB's ED 2009/6 Management Commentary. The letter can be downloaded here. Comments are invited on the draft letter by 10 February 2010.
	The IASB's ED describes at a high-level and in a principles-based way a framework for the preparation and presentation of Management Commentary (‘MC’) and the content of a decision-useful MC.  The proposal is that this material will represent non-mandatory guidance on MC. To summarise EFRAG's comments made in the draft comment letter: ·               we support the IASB’s decision to develop high-level, principle-based, non-mandatory guidance on MC; ·                we broadly support the detailed proposals, except that: ·               we have some concerns about the desirable qualitative characteristics it is proposed that MC should have; ·                we do not support the IASB’s decision to defer the development of placement principles until Phase E of the Conceptual Framework project. We think that some sort of placement principles are necessary to increase the effectiveness of financial reporting where MC is prepared.
Document : EFRAGs DCL on the IASBs ED Management Commentary.pdf
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