The current International Financial Reporting Standards (IFRS) model for mandatory annual impairment testing of goodwill is too complex and subjective, and is due for a major rethink, according to research from KPMG. The Big Four firm interviewed 30 senior stakeholders from business, investors, regulators and academics to find out their views on goodwill impairment testing. Mark Vaessen, KPMG's global IFRS leader, said: 'Although interviewees identified that goodwill impairment testing is relevant in assessing how well an investment has performed, they noted that its relevance to the market is in confirming, rather than predicting, value.
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