EFRAG draft comment letter on the proposed amendments aimed at enhanced information on acquisitions
02 May 2024
EFRAG (formerly the European Financial Reporting Advisory Group) has issued a draft comment letter on the IASB's proposed amendments around business combinations, goodwill and impairment.
In its draft comment letter, EFRAG welcomes the IASB's efforts in trying to achieve the right balance to improve the disclosure requirements in IFRS 3 and goodwill impairment test in IAS 36 at a reasonable cost to preparers.
However, EFRAG still has significant concerns and is seeking additional input from constituents on:
- specific aspects of the package of new disclosures;
- the proposal to provide quantitative information on expected synergies; and
- whether the IASB should deal with existing tax issues, including the treatment of deferred taxes.
Comments on EFRAG's draft comment letter are requested by 28 June 2024. For more information, see the press release and the draft comment letter on the EFRAG website.
