EFRAG and OIC issue questionnaire on impairment requirements for goodwill
Jul 31, 2012
The European Financial Reporting Advisory Group (EFRAG) and the Italian standard setter Organismo Italiano di Contabilita (OIC) have jointly issued a questionnaire on impairment requirements for goodwill. The results of the survey are intended as input to the IASB's post-implementation review of IFRS 3 'Business Combinations' which is expected to begin in 2013.
The questionnaire developed by EFRAG and OIC focuses on the value to users of financial reporting based on the current requirements for the impairment test of goodwill (IAS 36). It is aimed to provide input for the post-implementation review in relation to the assessment of the current prohibition to amortise goodwill, which was a contentious issue when introducing IFRS 3 Business Combinations.
Interested parties are invited to complete the questionnaire before 30 September 2012. It is available through the press release on the EFRAG website.