Striving for improvement in the MD&A

Management’s Discussion and Analysis (MD&A) complements and supplements financial statements and is a core element of corporate reporting. Learn more about a resource that gives you practical guidance on best practices for preparing your MD&A.

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The Canadian Performance Reporting Board (CPRB) issues guidance to improve and advance the measurement and reporting of organizational performance with a focus on providing guidance for MD&As.

The CPRB’s document, Striving for Improvement: A Review of Management’s Discussion and Analysis in 2008 Annual Reports, provides key information on what to strive for in your MD&A. It uses examples from the annual reports of a wide range of Canadian companies to illustrate best practices.

The document summarizes the results of an MD&A self-assessment checklist for 30 TSX listed companies with market capitalizations ranging from $200 million to more than $40 billion.

You will learn:

  • how companies adapted their reporting as a result of the financial crisis
  • how several companies excelled in reporting progress towards conversion to International Financial Reporting Standards (IFRS)
  • best practices for MD&A sections:
    • introduction
    • strategy
    • key performance drivers
    • capability to deliver results
    • accounting disclosures
    • results and outlook
    • risk
    • climate change and other environmental issues
    • regulatory matters

This is the second report using the self-assessment checklist, comparing results to earlier analysis in Evaluating and Improving Management’s Discussion and Analysis: A Baseline Report.