Global Standards for the world economy

Wednesday 03 March 2021

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Project News

The Board met on 19 May 2016 to discuss its Goodwill and Impairment project

 19 May 2016

This project responds to some of the findings from the IASB's Post-implementation Review of IFRS 3 Business Combinations.

At this meeting staff from the Accounting Standards Board of Japan (ASBJ) and the European Financial Reporting Advisory Group (EFRAG) presented some data about amounts and trends of reported goodwill, impairment and intangible assets.

The Board also considered the feedback about the PIR of IFRS 3 that was received in the 2015 Agenda Consultation, and discussed a staff progress report on the impairment phase of this project.

No decisions were made.

At its meeting on 19 May 2016, the Board decided to include this project on the active research section of the draft work plan.

Next steps

The Board will continue its discussions of this project at future meetings. The Board also expects to discuss this project with the FASB next month.