Building a better MD&A: Guide for smaller issuers

Your organization may be a smaller reporting issuer, but Management’s Discussion & Analysis (MD&A) is still an essential piece of communication to investors and others to help them understand a company’s performance and financial health.

Get your downloadable electronic copy.

Download Now

Building a Better MD&A: A Guide for Smaller Issuers is a helpful orientation to assist you with MD&A preparation. A publication of the Canadian Performance Reporting Board (CPRB), this document is a supplement to the earlier Management’s Discussion and Analysis: Guidance on Preparation and Disclosure.

You will learn:

  • six general disclosure principles to consider as your starting point
  • key disclosures most likely to be important to investors
  • helpful hints for gathering input from management and directors, and preparing disclosures
  • suggested reporting calendars
  • the disclosures that are most important to investors, by MD&A section
  • what to update in interim MD&As
  • certification processes required to ensure completeness, reliability and timeliness of disclosures


Jointly presented by CPA Canada and CPA Ontario, The ONE is the must-attend, multi-track event of the year, designed for all CPAs who want to be at the top of their game.

Our Firm Directory allows you to search for Canadian CPA firms using our interactive map as well as other criteria.

You’re in the eye of the storm amid a swirl of slips, forms and receipts. Chart your way through tax-time turbulence with these updates and resources.