There’s currently an IASB discussion paper on Business Combination – Disclosure, Goodwill and Impairment that was published in March 2020. One of the proposition of this discussion paper is that goodwill should be subject to amortisation just like other intangible assets rather take only testing it for impairment. The reason for this discussion is because many businesses come up with frivolous reasons not to carryout impairment of goodwill even when there are obvious evidences of impairment, leading to overstatement of the financial statements. Recall, under the defunct IAS 22: Accounting for business combination, goodwill was amortized over the estimated useful life. IAS 22 was replaced by IFRS 3 in January of 2008 and the new standard abolished amortisation of goodwill and introduced the concept of impairment testing. Now, with the latest development, should we “return back to Egypt” and embrace the old amortisation method, or continue to test for impairment only, or can we find solution somewhere in-between? What are your views?