IASB publishes discussion paper on goodwill and impairment

  IFRS Resources

The International Accounting Standards Board (IASB) has published a comprehensive discussion paper DP/2020/1 ‘Business Combinations — Disclosures, Goodwill and Impairment’. The IASB’s related project aims at improving the information companies provide to investors, at a reasonable cost, about the businesses those companies buy and would help to hold management to account for its decisions to acquire those businesses. In this context, the IASB is investigating possible improvements to IFRS 3 ‘Business Combinations’ and IAS 36 ‘Impairment of Assets’. The comment period on the discussion paper was extended until 31 December 2020.