Exposure Draft and Comment letters

The International Accounting Standards Board (IASB) today published for public comment an Exposure Draft of proposed modifications to the disclosures in IAS 36 Impairment of Assets for the measurement of the recoverable amount of impaired assets. Those disclosure requirements were introduced by IFRS 13 Fair Value Measurement, issued in May 2011.

There was an error in the Exposure Draft Recoverable Amount Disclosures for Non-financial Assets (ED2013/1).  On page 7, the word ‘material’ was omitted.  It should have been included and struck through.

The paragraph in the published Exposure Draft read:

“An entity shall disclose the following for each impairment loss recognised or reversed during the period for an individual asset, including goodwill, or a cash-generating unit:”

It should have read:

“An entity shall disclose the following for each material impairment loss recognised or reversed during the period for an individual asset, including goodwill, or a cash-generating unit:”

We apologise for any confusion that might have arisen. We have now republished the online PDF and the hardcopy version of this document will incorporate this correction.

Comment letter deadline

The commenting period closed on 19 March 2013.

View the comment letters.