IFRS Newsletter No. 06 – 2021

While many were waiting, sometimes apprehensively, for the IASB's tentative decision on the reintroduction of goodwill amortization, the Board held off at its September meeting, asking the staff to conduct further research on the subsequent accounting for goodwill.

Discussions on the next steps for the project on disclosures for business combinations and goodwill impairment testing, the subject of a discussion paper in March 2020, will therefore continue in the coming weeks. At this stage, it is difficult to foresee the outcome.

The IASB has completed the first phase of the post-implementation review (identifying matters to be examined) and has published a Request for Information in September 2021.

The comment letter period is open until January 28, 2022.

SUMMARY

• Introduction
• IFRS Highlights
• A Closer Look
  • Update on Discussion Paper on business combinations and impairment tests
  • Ongoing IASB deliberations on presentation of financial statements