IASB update: June 2024

Management Commentary Practice Statement

After months of indecision, in its June 2024 meeting, the IASB decided on the way forward for its Management Commentary Practice Statement (MCPS). This seems like a surprising turnaround as, during a discussion in March this year, many members had appeared to be sceptical about the benefits of pursuing the project. Since then, board members and staff had performed further outreach with stakeholders, in particular, regulators, and had found that there was more interest in the board finalising the project than had been apparent earlier on. This paved the way for the board's decision to complete its work.