IFRIC Interpretation on interim reporting

  • IFRIC (International Financial Reporting Interpretations Committee) (blue) Image

20 Jul 2006

The International Financial Reporting Interpretations Committee (IFRIC) has issued Interpretation 10 'Interim Financial Reporting and Impairment'.


The Interpretation addresses an apparent conflict between the requirements of IAS 34 Interim Financial Reporting and those in other standards on the recognition and reversal in financial statements of impairment losses on goodwill and certain financial assets.

IFRIC 10 concludes that:

  • An entity shall not reverse an impairment loss recognised in a previous interim period in respect of goodwill or an investment in either an equity instrument or a financial asset carried at cost.
  • An entity shall not extend this consensus by analogy to other areas of potential conflict between IAS 34 and other standards.

IFRIC 10 is effective for annual periods beginning on or after 1 November 2006. Earlier application is encouraged.

Click for Press Release (PDF 63k).


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