What is a Management Discussion and Analysis (MD&A)?
• “MD&A is a narrative explanation, through the eyes of Management of how the company has performed during the period covered by the financial statements.” The information should be up to the date of filing or as current as possible. • The analysis should explain the nature and reasons for changes in the Company’s performance and should focus on material information. • The Discussion should assist the reader to understand trends, events, transactions and expenditures. • Details on the content and completion of MD&A (form 51-102F1) can be obtained on any securities commission website.
