The International Accounting Standards Board (IASB) has proposed changes to IFRS 3 Business Combinations and IAS 36 Impairment of Assets in its recently released Exposure Draft.
The objective of the proposed changes are to improve the information that companies provide to investors about company acquisitions. This improved information is then intended to help investors to assess decisions to make acquisitions and the performance of acquisitions.
The proposals to amend IFRS 3 and IAS 36 are intended to require companies to disclose better information about their acquisitions and to make targeted changes to the impairment test.
The exposure draft remains open to public comment until 15 July 2024.