Sprawozdanie zarządu z działalności jako element rocznego raportu spółki
The Management Commentary as a Part of a Company’s Annual Report

Summary/Abstract: The aim of the paper is to present the legal framework and guidelines for the preparation of management reports on company operations by public companies in Poland. These include the accounting act and regulation of the Minister of Finance on the current and periodic information to be disclosed by the issuers of securities and the conditions for recognising as equivalent the information required under the provisions of the law of a non-member state, as well the non-obligatory guidelines such as Good Practices of Companies Listed on the Warsaw Stock Exchange. The latest development concerning the purpose and content of management reports on company activities is the International Financial Reporting Standard (IFRS) Practice Statement Management Commentary issued by the International Accounting Standards Board. A practical illustration of the discussed problem is the benchmarking of the PBG SA and ING SA management reports which were awarded honorary distinctions in “The Best Annual Report 2009” competition.

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