Five Tips for an Outstanding MD&A

In the movie I’m No Angel, Mae West said, “When I’m good, I’m very good, but when I’m bad, I’m better.” Alas, the same cannot be said of management’s discussion and analysis (MD&A), the introductory narrative section of a government’s annual audited financial statements. A well-crafted MD&A is a valuable companion to the financial statements, greatly helping the reader to understand and use the information. However, when MD&A is an afterthought in the financial statement preparation process, it may do more harm than good.

New requirements from the Governmental Accounting Standards Board (GASB) aim to address the common shortcomings in MD&A in practice, starting in 2026. But there’s no reason to wait until then to make your government’s MD&A readable, informative, and indispensable. Download the resource to gain insight into Five Tips for an Outstanding MD&A.