IFRS Application No 2.2 “Impairment e avviamento” for the insurance sector published

The Application integrates the general aspects analyzed in the Application OIC No 2 and it shall be read in conjunction with it. The aim of the document is to analyze some peculiarities of the insurance sector in performing the impairment of goodwill. 

The document applies for the preparation of consolidated and individual financial statements of the insuirance companies perpared under IFRSs. Please note that content of the document could or should be reviewed to take into account the Phase II of the project on Insurance Contracts, as well as to consider potential changes due to changes of IFRSs currently under discussion by the IASB,  important for the insurance sector (e.g. IAS 39).

Please note that this document is effective for annual period beginning on or after the date of its approval.