IFRS Snapshot: IAS 36 Impairment of Assets

Category: IFRS

IFRS Snapshot: IAS 36 Impairment of Assets


Does NOT apply to impairment of:

  • Inventory (see IAS 2); § Assets from construction contracts (IAS 11);
  • Deferred tax assets (IAS 12);
  • Assets from employee benefits (IAS 19);
  • Financial assets; other than subsidiaries, associates and joint ventures;
  • Investment property measured at FV (IAS 40);
  • Biological assets measured at FV less disposal cost (IAS 41);
  • Assets from insurance contracts (IFRS 4);
  • Non-current assets that are held-for-sale or discontinued operations (IFRS 5).

IAS 36 Impairment of Assets

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Michelle Balmer

Michelle Balmer CPA, CA

Vice President, Assurance

Michelle Balmer, CPA, CA, is a Senior Assurance Services Partner with MNP. With 14 years of experience in public practice, Michelle helps a broad range of public and privately held companies in a variety of industries. She also works on special projects, including costing studies, benchmarking and best-practice studies, operational analyses, litigation support and due diligence.

As a key member of MNP's Assurance team, Michelle has played an instrumental role in assurance policy development, implementing accounting and assurance standards firm-wide and educating assurance practitioners regarding methodologies and new pronouncements. She also provides technical advice and consultation on accounting and assurance issues, as well as on rules of professional conduct issues, to all MNP practitioners.

Michelle was certified a Chartered Accountant (CA) after obtaining a Bachelor of Commerce degree from the University of Alberta. She has been actively involved with the Institute of Chartered Accountants of Alberta, including the Chartered Accountants School of Business, in an instructional and marketing capacity. An avid volunteer, she has assisted numerous groups such as the Easter Seals of Alberta, Paralympic Sports Association and Junior Achievement of Northern Alberta.