Thursday 8 June 2023


12:00 pm


1.5 CPD hours

Session Topic

How to determine if my non-financial assets are impaired

Significant increases in interest rates, inflationary pressures, slowing domestic and international economies, and climate change all point to the possible existence of impairment indicators for 30 June. They will need to be assessed.

ASIC continues to highlight several areas for attention – asset values are at the top of the list. The commission has reported many negative findings on audit work in the area of impairment of non-financial assets.

It’s timely to renew our understanding of AASB 136 Impairment of Assets against this backdrop and current economic circumstances.

This session will:

  • Discuss ASIC’s impairment-focus areas
  • Identify recent impairment restatements by corporates
  • Recap key rules in AASB 136 – impairment indicators, measuring recoverable amounts, determining cash-generating units, goodwill assessments, determination of impairment losses, and disclosures
  • Study a case on impairment disclosures, and
  • Look at how impairment-indicator assessment and impairment can be documented and reported to governance.
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This session is presented by:

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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 a former Board member of the AASB (2012 – 2020) and a former member of the IFRS for SME implementation committee (2020 – 2023).