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Post-implementation review — IFRS 3

Transitional provisions:

Not applicable

Last updated:

June 2015


The RFI was seeking feedback on whether the Standard provides information that is useful to users of financial statements, whether there are areas of the Standard that represent implementation challenges and whether unexpected costs have arisen when preparing, auditing or enforcing the requirements of the Standard.

In addition to publishing the RFI, the IASB will also undertake a range of outreach activities internationally to gather further feedback on the effect of implementing IFRS 3.

Other developments

June 2015

On June 17, 2015, the IASB published its Report and Feedback Statement Post-implementation Review of IFRS 3, Business Combinations. The report showed general support for the accounting requirements in the Standard but some areas were identified where further research will be undertaken, including accounting for goodwill. On the basis of the PIR report, the IASB added to its agenda two research projects that will focus on:

  • Effectiveness and complexity of testing goodwill for impairment;
  • Subsequent accounting for goodwill;
  • Challenges related to applying the definition of a business;
  • Identification and fair value measurement of intangible assets such as customer relationships and brand names.

The next steps for these two projects have not yet been determined. IASB discussions are planned for 2015.

January 2014

On January 30, 2014, the IASB began the public consultation stage of its post-implementation review of IFRS 3, Business Combinations, by publishing a Request for Information (RFI) on experience with, and the effect of, implementing the Standard.

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