GAAP Consulting
Completed
Date

Thursday 4 December 2025

Time

2:30 pm

Duration

1.5 CPD Hours

Session Topic

Intangibles in focus – recognition, measurement, and impairment

Intangible assets are becoming increasingly significant, yet they remain one of the most complex and high-risk areas of financial reporting and audit. From goodwill and brand recognition to software and development costs, entities face difficult recognition and impairment judgements, while auditors must rigorously test assumptions and evidence.

This session will unpack the requirements of AASB/IFRS 3 Business Combinations, AASB/IFAS 138 Intangible Assets, and AASB/IAS 136 Impairment of Assets, with practical examples and insights.

This session will explore:

  • Defining intangible assets and the recognition challenges
  • Goodwill and other intangibles arising in business combinations
  • Accounting for acquisitions (separate purchases, government grants, internally generated)
  • Research vs development phases – applying the six criteria
  • Determining what constitutes ‘cost’
  • Assessing useful life (finite vs indefinite) – how it is determined and reassessed
  • When can residual be other than zero?
  • Internally generated intangibles that must not be recognised
  • How is recoverability determined?
  • Disclosure requirements, and
  • Why goodwill and intangibles remain a significant audit risk.
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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).

Colin Parker

Principal | GAAP Consulting

Colin, Principal of GAAP Consulting, is an expert in financial reporting, auditing and related governance issues, and was previously a member of the Australian Accounting Standards Board.

He has conducted many independent expert and consulting experts reports on professional negligence, and accounting and auditing standards. He is the team leader advisory and litigation services and adviser to GAAP Training and Reportfraud.