IFRS Application No 2.1 “Impairment e avviamento” for the banking sector published

The Executive Board of the OIC published the IFRS Application No 2.1 “Impairment e avviamento” for the banking sector.

This application provides some considerations and examples on how to apply IAS 36 to the banking sector. This sector, in fact, due to the type of business, presents some peculiarities in performing the impairment of goodwill. The Application integrates the general aspects analyzed in the Application OIC No 2 and it shall be read in conjunction with it. Please note that this document is effective for annual period beginning on or after the date of its approval.