16/10/2024 - EFRAG publishes Feedback Statement on the IASB’s Exposure Draft Business Combinations—Disclosures, Goodwill and Impairment
EFRAG publishes its Feedback Statement on the IASB’s ED/2024/1 Business Combinations—Disclosures, Goodwill and Impairment (Proposed amendments to IFRS 3 and IAS 36) (‘the ED’).
The Feedback Statement summarises constituents' feedback to EFRAG with respect to the IASB’s Exposure Draft and explains how this feedback was considered in developing EFRAG’s Final Comment Letter.
Read more about constituents' feedback to:
IFRS 3: most stakeholders supported the IASB's goal of enhancing information on business combinations, but concerns were raised by preparers, auditors and national standard setters about some key aspects of the IASB's proposals; and
IAS 36: most constituents were not convinced that the proposed amendments would lead to changes in current practices or effectively meet the IASB's objective of reducing the effects of shielding and management over-optimism.
The IASB published an Exposure Draft Business Combinations—Disclosures, Goodwill and Impairment on 14 March 2024. Thereafter, on 22 July 2024, EFRAG published its Final Comment Letter after receiving comments on its Draft Comment Letter published on 30 April 2024.
