The International Accounting Standards Board (IASB) has published a project to establish requirements for the contents of companies Management commentary, which usually accompanies the financial statements when they are published.
SOCPA, represented by its Accounting Standards Committee, expressed its comments on the draft, where it mostly agreed with the content of the draft, in particular with regards to the objectives of the report, which should complement the information on the financial statements, add depth related to the information disclosed in those lists, and provide an appropriate basis for future foresight.
In its comments, SOCPA suggested to the Board to conduct an extensive outreach with preparers and users of financial statements to find an agreed upon ground of the boundary of information disclosed in the management commentary. SOCPA also suggested that there should be focus on the factors that affect or could affect the entity’s financial performance weather currently or in the long term. In addition, SOCPA presented a number of suggestions most importantly was the necessity for compatibility between the draft and the conceptual framework, and the need to use the same commonly used terms instead of new terms that give the same meaning found in the conceptual framework and standards.  

You can read IASB proposed draft here

For SOCPA's comments, click here