Do you spend evenings and weekends reading annual reports as opposed to doing, say, anything? We thought so. So you’re definitely familiar with the cheerleading section in those glossy marketing pieces known as “Management Discussion and Analsyis” or “MD&A”.
Well the IASB has decided that MD&A isn’t worth getting too worked up about as three board members voted “meh”, against issuing an actual proposal that would give management guidance on content. Sayeth:
Because the proposal will not result in a financial reporting standard, issuing it is not an effective use of IASB resources or those of constituents who may feel an obligation to comment, say the three board members, Robert Garnett, Prabhakar Kalavacherla, and James Leisenring.
Common sense appears to be alive and kicking at the IASB. Hoo-RAH.
International Standard Setters Have Their Say on MD&A [CFO.com]