Artículo 5.3. PS 1 Paragraph 5.3

Management commentary shall provide a complete depiction of the matters it addresses. Providing a complete depiction of a matter means providing all material information about the matter—not necessarily all information about the matter that is available to management. A complete depiction of a matter includes all material information necessary for users to understand the matter, including all material descriptions and explanations. Illustration (a) A complete depiction of the potential effects of a possible future event includes information to help users assess not only the probability of the event and the possible magnitude of the associated cash flows, but also the timing of those cash flows and the uncertainty in their amount and timing. (b) If a future event has a range of possible outcomes, a complete depiction of that event includes information to help users assess both the upper and the lower boundaries of the range, and understand the likelihood of the various outcomes within the range. (c) If the potential effects of a possible future event are sensitive to small changes in a variable—for example, the future price of a commodity—a complete depiction of that event includes information to help users assess the potential effects of that event for the range of outcomes that management regards as reasonably possible. (d) If management commentary includes a statistic from an external source—for example, a statistic about the size of a market—material information about that statistic might include its source, the period it covers and the population for which it was measured. (e) If management commentary reports an amount based on an estimate, a complete depiction of that amount might include an explanation of the estimation process and its limitations.