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Applying IFRS - Business combinations: disclosures, goodwill and impairment
The IASB intends to improve disclosures for the subsequent performance of a business combination, to retain the impairment-only approach for goodwill, and proposes simplifications to the impairment test.
In March 2020, the International Accounting Standards Board (IASB or the Board) IASB published the Discussion Paper, Business Combinations: Disclosures, Goodwill and Impairment. The Board intends to improve disclosures around the subsequent performance of a business combination, to retain the impairment-only approach for goodwill, and proposes simplifications to the impairment test. The Board has proposed that CGUs containing goodwill are only tested when there is an impairment trigger event, and not annually.
The comment period for the DP ends on 31 December 2020.