Completed
Date

Thursday 17 May 2018

Time

12:00 pm

Duration

1.5 CDP hours

Session Topic

Fixing impairment accounting errors

At the top of ASIC’s surveillance focus for 2018 is asset impairment. It also features significantly in the commission’s inspired corporate restatements and the results of its six-monthly surveillance results. Best to heed the warnings and lessons and manage the risks.
The session will:

  • Describe the circumstances that have led to several corporates restating their financial statements
  • Identify and explain the lessons to be learnt from ASIC’s surveillance program
  • Revisit the key requirements of AASB 136 Impairment of Assets, and ASIC information sheet203 Impairment of non-financial assets: Materials for directors, and
  • Describe the essential elements of an entity’s impairment-identification and assessment processes.
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This session is presented by:

Corporate Headshot

Carmen Ridley

Principal | Australian Financial Reporting Solutions

Carmen has an excellent knowledge of financial reporting through significant experience with a number of major accounting firms in both the external audit and technical divisions and spending significant time analysing and interpreting accounting standards for clients. Carmen is the co-author of ‘Understanding and Implementing the Reduced Disclosure Regime’. Carmen is serving her third three-year term as a member of the AASB.