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Agenda

Input on the IASB’s DP/2020/1 Business Combinations — Disclosures, Goodwill and Impairment

The Confederation of Danish Industry (DI) and FSR – Danish Auditors are pleased to invite you to a web-based meeting in the Danish Accounting Forum (Dansk Regnskabsforum) on the IASB’s Discussion Paper DP/2020/1 Business Combinations — Disclosures, Goodwill and Impairment published in March 2020 (click to follow the link and familiarise yourself with a summary of the Discussion Paper).

The main objective of the meeting is to present and gather early views and input from participants on major aspects of the Discussion Paper for the IASB to consider whether and how to develop detailed proposals in the next stage of the project.

The IASB’s preliminary view is that it should require a company to disclose information about its objectives for an acquisition and, in later periods, information about how that acquisition is performing against those objectives. Such information would help investors to hold that company’s management to account for its acquisition decisions.

The IASB has also been exploring in this project whether to change how a company is required to account for goodwill. The preliminary view of the IASB is that amortisation of goodwill should not be reintroduced because the IASB has not heard any new arguments supporting such reintroduction.

A preliminary view of the IASB is also that it should no longer require a company to carry out an annual quantitative impairment test of CGUs containing goodwill if the company has no indication that an impairment has occurred. A company would still be required to assess whether any such indication exists.

After a short presentation of the selected topics from the DP by the IASB, EFRAG will provide the European preliminary views on the DP followed by an open debate and input from Danish stakeholders.

Facilitators of the debate are Jan Peter Larsen (FSR) and Kristian Koktvedgaard (DI).

TIME AND VENUE
You can register and watch the web-meeting here

Invitation DRF IASB DP on BusComb_GW_and_Impairment

CONTACTS
Confederation of Danish Industry
Head of VAT, Acc. & Auditing Kristian Koktvedgaard
Tel.: +45 3377 3577 / kko@di.dk
FSR – Danish Auditors
Consultant Jan Brødsgaard
Tel.: +45 3369 1060 / jbr@fsr.dk