IASB votes to retain impairment-only approach for goodwill accounting

At its November 2022 meeting, the IASB voted to retain the impairment-only approach to account for goodwill.

The IASB considered stakeholder feedback from the Post-implementation Review of IFRS 3 Business Combinations, the discussion paper the IASB published in March 2020 and subsequent research. The IASB concluded that extensive evidence collected did not demonstrate a compelling case to change its previous decision about accounting for goodwill.

The press release by the IASB may be accessed here.