Goodwill and Impairment – International Accounting Standards Board
At its meeting on October 18-20, 2022, the IASB met to discuss aspects of its preliminary views on the subsequent accounting for goodwill. In particular, it discussed whether to retain the impairment-only model, which was the IASB’s preliminary view, or to explore reintroducing amortization of goodwill. The IASB was not asked to make any decisions. In the final quarter of 2022 the IASB will be asked to decide whether to retain the impairment-only model. At future meetings the IASB will be asked to make decisions about: (i) whether to move the project from the research phase to the standard-setting phase; (ii) aspects of the disclosure requirements for business combinations; and (iii) other topics within the scope of the project.
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