IASB issues revised Practice Statement on Management Commentary
IASB issues revised Practice Statement on Management Commentary
The International Accounting Standards Board (IASB) has issued the revised Practice Statement on Management Commentary on 23 June 2025.
The revised Practice Statement supports improvements to and greater global alignment in management commentary and narrative reports accompanying the financial statements. It also supports consistency across financial reports and requires a coherent, fact-based narrative structured around six core content areas: business model, strategy, resources and relationships, risks, external environment, and financial performance and position.
The revised Practice Statement is applicable for annual reporting periods beginning on or after 23 June 2025, with earlier application permitted.
The announcement and revised Practice Statement may be accessed here.
The revised Practice Statement supports improvements to and greater global alignment in management commentary and narrative reports accompanying the financial statements. It also supports consistency across financial reports and requires a coherent, fact-based narrative structured around six core content areas: business model, strategy, resources and relationships, risks, external environment, and financial performance and position.
The revised Practice Statement is applicable for annual reporting periods beginning on or after 23 June 2025, with earlier application permitted.
The announcement and revised Practice Statement may be accessed here.