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Do I need to disclose a post year-end impairment?

If a listed investment is impaired after year end, does this need to be diclosed in the notes?

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A client invested in listed shares in the year, which I have impaired appropriately for the year, however the impairment continues after year end.  Do I need to disclose this in the notes to the financial statements or only if this affects Going Concern?  If so, what exactly should I be disclosing and is there specific wording to use?

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By johnt27
18th Jun 2019 15:26

IFRS, FRS 102, FRS 105 or other?

Assuming FRS 102, you have a non-adjusting event see para 32.7(a).

As per the above you should disclose the PBSE and may also need to consider further disclosure if it has an impact on going concern.

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By elliebhall023
18th Jun 2019 16:22

Hi John

FRS102 - I did think so but couldn't think what wording to use to confirm.

Thank you, I've found a note in our system that can be added to the FS - I don't believe there to be an impact on Going Concern in this instance so happy for the disclosure to purely state the value of the impairment that has occurred.

Many thanks for your help.

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