Exposure Draft – Business Combinations – Disclosures, Goodwill and Impairment

The International Accounting Standards Board (IASB) issued an exposure draft proposing to amend IFRS 3, Business Combinations and IAS 36, Impairment of Assets to:

• require companies to report the objectives and related performance targets of strategic acquisitions, including whether these are met in subsequent years;
• require companies to provide information about the expected synergies for all material acquisitions; and
• include targeted changes to the current impairment test in IAS 36 that would improve the effectiveness of the impairment test and reduce the cost and complexity of applying the test.

Comments are requested by July 15, 2024.

Visit AcSB for opportunities to participate in their consultation activities, and help inform their response to the IASB.