IFRIC draft on interim financial reporting and impairment

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12 Jan 2006

The International Financial Reporting Interpretations Committee (IFRIC) has released for public comment a draft Interpretation D18 'Interim Financial Reporting and Impairment'.

The proposed Interpretation would clarify the interaction between IAS 34 Interim Financial Reporting and two other standards, IAS 36 Impairment of Assets and IAS 39 Financial Instruments: Recognition and Measurement, and the effect of that interaction on subsequent interim and annual financial statements.

The proposed Interpretation clarifies that an entity cannot reverse an impairment loss recognised in a previous interim period in respect of goodwill, an investment in an equity instrument or a financial asset carried at cost.

Click for Press Release (PDF 53k).


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