In: Accounting
The financial statement disclosures like Management discussion and Analysis (MD&A), the audit reports has sufficient information for fulfilling the requirements of the same.
The MD&A covers topics whose information are provided by officers and controllers of different departments like HR, Finance, Marketing, Production and Operations, Future Prospects, etc. The accounting and financing figures are provided by the Audit report.
The information regarding the marketing, production and operation activities of the company are not provided by the Audit reports. Also, the topic of “Future Prospects” is to be fulfilled by the management which do not have anything to do with the Audit Reports and it is the management prospective and views towards growth in the industry and company progress patterns.
The details provided by the MD&A is the refined informations towards marketing, production and operation departments of the company which do not disclose the secrets of the company. So, it is totally the management prospective to disclose them or not. The extent of disclosure is also put to management discretion.
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