31 May 2021To:
Members of the Hong Kong Institute of CPAsAll other interested partiesINVITATION TO COMMENT ON IASB EXPOSURE DRAFTED/2021/6 Management CommentaryComments to be received by 8 October 2021The Financial Reporting Standards Committee (FRSC) of the Hong Kong Institute ofCertified Public Accountants (Institute) is seeking comments on the IASB Exposure DraftED/2021/6 Management Commentary. The Exposure Draft (ED) is available on theInstitute's website:
http://www.hkicpa.org.hk/en/standards-and-regulations/standards/financial-reporting/exposure-drafts/The International Accounting Standards Board (IASB) has proposed a comprehensiveframework for companies preparing management commentaries in response to investorsand creditors’ changing information needs and to developments in narrative reporting.The proposed framework represents a major overhaul of IFRS Practice Statement 1Management Commentary. It builds on innovations in narrative reporting and would enablecompanies to bring together, in one place, the information investors need to assess acompany’s long-term prospects—including information about the company’s intangibleresources and relationships and about sustainability matters that affect the company.IFRS Standards do not require companies to provide management commentary—this isunchanged by the proposed new framework. However, regulators may require companiesto provide management commentary in accordance with the proposed framework orcompanies may choose to do so. The IASB envisages that companies would be able toapply the proposed framework along with national reporting requirements and inconjunction with frameworks that address particular topics, such as sustainability matters.The FRSC invites your comments on the proposal as set out in the ED by 8 October 2021to allow your comments to be considered in developing its response to the IASB. Commentsshould be supported by specific reasoning and should be submitted in written form.Comments may be sent by mail, fax or e-mail to:
Standard Setting DepartmentHong Kong Institute of Certified Public Accountants37th Floor, Wu Chung House213 Queen’s Road EastWanchai, Hong KongFax number (+852) 2865 6776E-mail: commentletters@hkicpa.org.hkComments will be acknowledged and may be made available for public review unlessotherwise requested by the respondent.
Invitation to Comment on IASB Exposure Draft ED/2021/6 Management Commentary
下载原件31 May 2021To:
Members of the Hong Kong Institute of CPAsAll other interested partiesINVITATION TO COMMENT ON IASB EXPOSURE DRAFTED/2021/6 Management CommentaryComments to be received by 8 October 2021The Financial Reporting Standards Committee (FRSC) of the Hong Kong Institute ofCertified Public Accountants (Institute) is seeking comments on the IASB Exposure DraftED/2021/6 Management Commentary. The Exposure Draft (ED) is available on theInstitute's website:
http://www.hkicpa.org.hk/en/standards-and-regulations/standards/financial-reporting/exposure-drafts/The International Accounting Standards Board (IASB) has proposed a comprehensiveframework for companies preparing management commentaries in response to investorsand creditors’ changing information needs and to developments in narrative reporting.The proposed framework represents a major overhaul of IFRS Practice Statement 1Management Commentary. It builds on innovations in narrative reporting and would enablecompanies to bring together, in one place, the information investors need to assess acompany’s long-term prospects—including information about the company’s intangibleresources and relationships and about sustainability matters that affect the company.IFRS Standards do not require companies to provide management commentary—this isunchanged by the proposed new framework. However, regulators may require companiesto provide management commentary in accordance with the proposed framework orcompanies may choose to do so. The IASB envisages that companies would be able toapply the proposed framework along with national reporting requirements and inconjunction with frameworks that address particular topics, such as sustainability matters.The FRSC invites your comments on the proposal as set out in the ED by 8 October 2021to allow your comments to be considered in developing its response to the IASB. Commentsshould be supported by specific reasoning and should be submitted in written form.Comments may be sent by mail, fax or e-mail to:
Standard Setting DepartmentHong Kong Institute of Certified Public Accountants37th Floor, Wu Chung House213 Queen’s Road EastWanchai, Hong KongFax number (+852) 2865 6776E-mail: commentletters@hkicpa.org.hkComments will be acknowledged and may be made available for public review unlessotherwise requested by the respondent.