EFRAG and OIC expect that the IASB will initiate its post-implementation review of IFRS 3 Business Combinations in 2013.
EFRAG and OIC have therefore initiated a project aiming to provide early input and an in-depth analysis to this review, focusing on the value to users of financial reporting based on the current requirements for the impairment test of goodwill (IAS 36). The questionnaire is aimed to provide input for the post-implementation review in relation to the assessment of the current prohibition to amortise goodwill, which was a contentious issue when introducing IFRS 3 Business Combinations.
The scope of the project is limited to the subsequent measurement of goodwill within the context of current requirements.
In order to receive input from all types of constituents (users of financial statements, financial statement preparers, standard setters, auditors and academics) on the matter, OIC and the EFRAG secretariat have prepared a questionnaire.
EFRAG and OIC hope that as many as possible would wish to complete the questionnaire before 30 September 2012.
The questionnaire can be downloaded below.