In March 2024 the International Accounting Standards Board (IASB) published for public comment the Exposure Draft Business Combinations—Disclosures, Goodwill and Impairment. The Exposure Draft contains proposed amendments to IFRS 3 Business Combinations and IAS 36 Impairment of Assets.
IFRS 3 contains requirements for how an entity accounts for business combinations. The IASB did a post-implementation review of IFRS 3 to assess whether the effects of applying IFRS 3 were as intended. The IASB started the Business Combinations—Disclosures, Goodwill and Impairment project to respond to some areas of focus identified in the post-implementation review.
The proposals to amend IFRS 3 are intended, in particular, to improve the information companies disclose about the performance of business combinations.
The proposed amendments to IAS 36 are intended to improve the application of the impairment test of cash-generating units containing goodwill.
The deadline for submitting comment letters is 15 July 2024.
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