In June 2025 the International Accounting Standards Board (IASB) issued the revised IFRS Practice Statement 1 Management Commentary (revised Practice Statement). The revised Practice Statement is designed to support improvements to and greater global alignment in management commentary and similar reports.
The revised Practice Statement focuses on investors’ information needs and targets shortcomings in practice. It is designed to provide a global benchmark for regulators to use in updating or developing national requirements and guidance on management commentary or a similar report. It also provides a comprehensive resource for entities to meet users’ information needs. In developing the revised Practice Statement, the IASB built on innovations in narrative reporting, including the Integrated Reporting Framework.
The revised Practice Statement supports the provision of connected information within management commentary and across management commentary and other general purpose financial reports. Refer to the ‘Connecting IFRS Accounting and IFRS Sustainability’ page for other connectivity-related resources and developments.
View an explanation of key terms used in the revised Practice Statement.
