Insights into IAS 36 Impairment of Assets | March 2023

IAS 36 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 IAS 36’s guidance is detailed, prescriptive and complex in some areas.

The Insights into IAS 36 series has been written to assist preparers of financial statements and those charged with the governance of reporting entities to understand the requirements set out in IAS 36 and revisit some areas where confusion has been seen in practice.

The final two publications in the Insights into IAS 36 series cover disclosure requirements when an entity recognizes an impairment loss and/or reversal during the reporting period and considerations for some regularly encountered issues when applying the standard:

The publications mentioned above follow this IFRS Adviser Alert.