Accounting alerts: #4 2015

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Accounting alerts: #5 2015

ASIC releases information sheet on the role of directors and audit committees in relation to impairment of non-financial assets

Impairment of non-financial assets, such as goodwill, identifiable intangible assets and property, plant and equipment is a significant focus area for ASIC and a number of companies have made restatements in this area as a result of ASIC’s Financial Statement Surveillance Programme.

ASIC releases information sheet on the role of directors and audit committees in relation to impairment of non-financial assets

Financial reporting is undergoing rapid change, particularly with the IASB finalising a number of projects effective over the next few years. The need to be kept informed of the latest developments has never been more important.

Our Accounting Technical team produce this series of 'Heads Up' newsletters to keep our clients up-to-date on new pronouncements, emerging issues and uncertainties in interpretation in financial reporting.

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