Introduction of IAS/IFRS Committee

 08.04.2024 

The IAS-IFRS Committee, set up more than 20 years ago, works for the Group at various levels. In addition to the systematic study of standards and their updates, the Committee is:

•  Publishing a reference book dealing with the global framework on several occasions, reaching a wide audience and in particular our customers and prospects (a new update will be available end of May 2024)
• Publishing online summaries of all standards and interpretations
• Developing topical issues by publishing booklets when major new standards were issued
• Providing technical training at annual conferences
• Collecting a large number of technical works dealing with subjects related to standards and their practical applications.

Thanks to their experience, the members of the Committee are available to answer any questions you may have about the standards. We can also help you introduce the standards by your customers.
For example, one of our members asked us about the treatment of goodwill and badwill under IFRS in the context of a business combination or the purchase of an equity interest.

It should be noted that the first step is to ensure that all the assets and liabilities acquired are correctly valued, and if necessary, to apply IFRS in its entirety, in particular by determining the fair value of the assets and liabilities acquired (not forgetting deferred tax). This analysis may result in a restatement of the balance sheet. The difference constitutes goodwill to be capitalised or badwill to be recognised directly in profit.

We would point out that, even if this is not a good deal, the creation of a provision for risks to cover future losses is not permitted under IFRS, as the triggering event has not been proven.

For further information, please contact us!