The articles in our ‘Insights into MFRS 136’ series have been written to assist preparers of financial statements and those charged with the governance of reporting entities understand the requirements set out in MFRS 136, and revisit some areas where confusion has been seen in practice.
This article explains if and when a detailed impairment test as set out in MFRS 136 is required. The guidance prescribes different requirements for goodwill and indefinite life intangible assets (including those not ready for use) when compared to all other assets.
As such, this article will cover Step 3 in the impairment review which is to determine if and when to test for impairment is needed.
This publication explains if and when a detailed impairment test as set out in MFRS 136 is required.
How we can help
We hope you find the information in this article helpful in giving you some insight into MFRS 136. If you would like to discuss any of the points raised, please do not hesitate to contact us.