IAS 16 requires entities to review at least at the end of each annual reporting period to assess if the fair value of the non-current assets has changed.

Question

Quizplus · Accepted Answer

IAS 16 does not require entities to review the fair value of non-current assets at the end of each annual reporting period. Instead, it requires entities to assess if there has been any impairment loss in the value of the asset. Fair value is only reviewed if there is an indication of impairment.

IAS 16 Requires Entities to Review at Least at the End