23. November 2020
On 2nd and 20th November 2020, the ASCG, together with representatives from IASB and EFRAG, held public outreach sessions about the content of the IASB Discussion Paper DP/2020/1 Business Combinations – Disclosures, Goodwill and Impairment (web-based sessions).
The events served to discuss the proposals and preliminary views of the IASB discussion paper. The vast majority of the approximately 50 participants shared the preliminary assessment of the IASB proposals and views by the ASCGs IFRS Technical Committee. Accordingly, the proposals of the IASB to improve the disclosures on acquisitions and the assessment of the effectiveness of the impairment test in particular were supported, whereas the retention of the impairment-only approach was uniformly rejected; instead, the reintroduction of the amortization of goodwill was supported.
The slide deck of the sessions is now available at the ASCG website (in German). The report will be available soon.