MFRS 136 - Overview of the Standard

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This article provides an ‘at a glance’ overview of MFRS 136’s main requirements and outlines the major steps in applying those requirements.

MFRS 136 ‘Impairment of Assets’ is not a new Standard, and while many of its requirements are familiar, an impairment review of assets (either tangible or intangible) is frequently challenging to apply in practice. This is because MFRS 136’s guidance is detailed, prescriptive and complex in some areas.

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.

Our publication will cover:

  • Objective of MFRS 136
  • MFRS 136: Key definitions
  • MFRS 136's step by step impairment approach

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.