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Goodwill and Impairment - IASB

Date recorded:

At its meeting on July 19, 2017, the IASB met to consider recent feedback from the Capital Markets Advisory Committee, the Global Preparers Forum and the Accounting Standards Advisory Forum. The Board discussed the following in the light of the feedback: possible relief from the mandatory annual quantitative impairment testing of goodwill required by IAS 36 Impairment of Assets; and possible improvements to disclosures in financial statements about goodwill. The Board was not asked to make any decisions. The Board will continue to discuss whether it is possible: (i) to simplify and improve the application of the impairment test in IAS 36 without loss of information to users of financial statements; and (ii) to improve the quality of information provided to users without imposing costs that outweigh benefits.

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