22. November 2021

Management Commentary: ASGC comments on IASB Exposure draft

The ASCG has submitted its comment letter on ED/2021/6 Exposure Draft IFRS Practice Statement Management Commentary to the IASB.

The revision of this Practice Statement is mainly due to the increasing interest of creditors and investors in information on sustainability issues, long-term prospects and on intangible resources as explained by the IASB in the ED.

The ASCG welcomed this step in principle but expressed concerns about the limited conceptual consideration in the ED, as these topics are addressed almost exclusively through numerous examples.

Furthermore, the ASCG called on the IASB to align its approach to the Management Commentary with the ISSB. The comment letter can be obtained here.

At the same time, the ASCG also responded to EFRAG’s draft comment letter of July 2021.