Comments sought on exposure drafts

At BDO, we provide comments locally to the Australian Accounting Standards Board (AASB) and internationally to the International Accounting Standards Board (IASB). We welcome any client comments on exposure drafts that are currently available for comment. If you would like to provide any comments please contact Aletta Boshoff at [email protected].



Comments due to AASB by

Comments due to IASB by

Discussion Paper Business Combinations – Disclosures, Goodwill and Impairment

The IASB is carrying out a research project on goodwill and impairment to consider issues identified in the post-implementation review of IFRS 3 Business Combinations including:

  • Disclosing information about acquisitions
  • Testing goodwill for impairment – effectiveness and cost
  • Whether to reintroduce amortisation of goodwill
  • Recognising intangibles separately from goodwill.

2 October 2020

31 December 2020

ED 306 Transition Between Tier 2 Reporting Frameworks for Not-for-Profit Entities Proposes that not-for-profit entities transitioning early from Reduced Disclosures to Simplified Disclosures (i.e. for a period commencing prior to 1 July 2021) need not present comparative information in the notes to the financial statements where such information was not required in the most recent Tier 2 financial statements. 15 January 2021 N/A

ED 305 Lease Liability in a Sale and Leaseback

When the transfer of an asset by the seller-lessee satisfies the requirements for a sale of an asset under IFRS 15, the ED proposes additional guidance for:

  • Initially recognising the right-of-use asset and lease liability, and
  • Subsequently measuring the right-of-use asset and lease liability.

21 February 2021

29 March 2021

ITC 42 Business Combinations under Common Control

Proposes to reduce diversity in practice when accounting for business combinations under common control by the receiving company.

17 July 2021

1 September 2021


This publication has been carefully prepared, but is general commentary only. This publication is not legal or financial advice and should not be relied upon as such. The information in this publication is subject to change at any time and therefore we give no assurance or warranty that the information is current when read. The publication cannot be relied upon to cover any specific situation and you should not act, or refrain from acting, upon the information contained therein without obtaining specific professional advice. Please contact the BDO member firms in Australia to discuss these matters in the context of your particular circumstances.

BDO Australia Ltd and each BDO member firm in Australia, their partners and/or directors, employees and agents do not give any warranty as to the accuracy, reliability or completeness of information contained in this article nor do they accept or assume any liability or duty of care for any loss arising from any action taken or not taken by anyone in reliance on the information in this publication or for any decision based on it, except in so far as any liability under statute cannot be excluded. Read full Disclaimer.