Welcome to PwC's Impairment Smart Class

The novel coronavirus (COVID-19) has brought a number of challenges and uncertainty across a broad spectrum of society and business. One of the consequences of the volatile capital markets is an increased risk of impairment to goodwill and non-current assets. To support you in year end reporting we’ve developed the Smart Class which comprises content covering Technical matters, Getting Audit ready and supporting Directors in fulfilling their responsibilities. Access the resources below in your own time and at your own pace. On 17 June, we held a live panel session with PwC specialists where we explored some of the more complex aspects of the impairment calculation under COVID-19.


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Impairment basics in a COVID-19 world

One of the impacts of COVID-19 has been the impact on financial reporting with the most obvious being on impairment of assets, both financial and non-financial but there are many more accounting implications 

Impact of IFRS 16 on other standards

After adopting IFRS 16, many companies will issue interim financial statements under IAS 34 before preparing the first annual financial statements. 

A guide to navigating impairment model risk

What you need to understand and address impairment model risk.   


Episode 75: COVID-19 and Impairment

Is the COVID-19 pandemic an indicator of impairment in IAS 36? If yes, how do you do the impairment test in this uncertain time?

Key disclosures under AASB 136 Impairment of Assets

Disclosures in the financial statements are the way you express your consideration and thought processes throughout the journey of testing for impairment.

Getting Audit Ready

Getting Audit Ready Checklist

Impairment testing is a continuing area of focus of regulators, Audit Committees and other external parties. 


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Voice of the regulator: Interview with Doug Niven, ASIC

Supporting Directors in their Responsibilities

Managing your reporting to the Board

As a result of increased focus from the regulator and other stakeholders and increased risk as a result of current market conditions, the Board of Directors will be looking to management to provide a detailed assessment of their considerations of Impairment under AASB 136.


The training materials and guidance presented here are not client-specific and have been prepared for general informational purposes. This does not constitute professional advice on facts and circumstances specific to any person or entity. You should not act upon the information contained in this publication or training without obtaining specific professional advice. No representation or warranty (express or implied) is given as to the accuracy or completeness of the information contained in this training or publication. The information contained in this publication was not intended or written to be used, and cannot be used, for purposes of avoiding penalties or sanctions imposed by any government or other regulatory body. PricewaterhouseCoopers, its members, employees, and agents shall not be responsible for making any decisions in respect of accounting policies on behalf of management or for any loss sustained by any person or entity that relies on the information contained in this training or publication. Certain aspects of this guidance may be superseded as new guidance or interpretations emerge. Financial statement preparers and other users of this publication are therefore cautioned to stay abreast of and carefully evaluate subsequent authoritative and interpretative guidance and management have ultimate responsibility to make decisions on their financial reporting framework (including impairment related work).

Contact us

Debbie Smith

Debbie Smith

Brisbane Managing Partner, National Mining Leader, PwC Australia

Tel: +61 7 3257 5000

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