The Australian Accounting Standards Board
(AASB) has issued a consultation to identify any improvements that
could be made to the principles in IFRS 3 Business Combinations and
IAS 38 Intangible Assets.

The AASB said it is
gathering information for the purposes of a post-implementation
review of the principles.

The questionnaire seeks
information on participants experiences in using information
prepared in accordance with particular aspects of the original
version of IFRS 3 and revised version of IFRS 3 or similar

The consultations
follows a recent AASB staff research questionnaire for preparers,
advisors, auditors and regulators on the initial accounting for
intangible assets acquired in business combinations under IFRS 3
and IAS 38.

The deadline to complete
the questionnaire, which is intended for users of financial
statements, is 15 December.