OIC, EFRAG and the ASBJ have published a feedback statement that summarises the responses received on the Discussion Paper Should Goodwill Still Not Be Amortised? – Accounting and Disclosure for Goodwill

OIC, EFRAG and the ASBJ decided to publish in July 2014 a Discussion Paper to stimulate and progress the debate on accounting and disclosure requirements of acquired goodwill before the IASB formally considers a standard-setting initiative. To explore possible approaches on this important subject, members of the board member and staff from the ASBJ, EFRAG and the OIC formed a Research Group. As a result of its analysis, the Research Group concluded that reintroduction of amortisation of goodwill would be appropriate.

In response to Discussion Paper, the Research Group received twenty nine comment letters and is now issuing a feedback statement which describes the main comments that it received. The majority of respondents supported that amortisation of goodwill should be reintroduced, but also pointed out that there were areas for improvement in the impairment testing.

Please find the document herewith attached.