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Blog: Anna FENGIER

4 December 2015

When reviewing financial statements for the year 2014, I could not escape the thought that the National Accounting Standard No. 9 (referred to as NAS 9) 'Director's Report' did not result in any visible improvement in the quality of the elaborated documents. You may still come across reports that are roughly one page long, based on financial data from only two years or simply information that has been pasted straight from the financial statement, perhaps with a little comment saying 'increase/decrease by so and so', without any kind of detailed clarification as to the root cause of such changes. Obviously, this is not to say that the management report should be revealing company business secrets. Still, a more comprehensive approach may be expected here, with the information provided allowing the reader to assess the company's actual condition.