AASB 136 Impairment of Assets 110-116: Reversal assessment: at each reporting date look for indications that an earlier impairment loss on an asset other than goodwill no longer exists or has decreased (value increase, favourable environment changes, lower market rates, favourable changes in use including enhancement spend, better-than-expected performance); reverse only where the estimates used to determine recoverable amount have changed, never for the mere unwinding of the discount

What does 110-116 require?

At every reporting date the entity considers whether any sign indicates that a loss recognised in a prior period on an asset other than goodwill has gone or shrunk, and if so estimates recoverable amount. The minimum signs mirror the impairment indicators: observable evidence of a significant rise in the asset's value; favourable changes, current or imminent, in the entity's technological, market, economic or legal setting; falls in market rates likely to lower the discount rate and raise recoverable amount materially; favourable changes in how much or how the asset is used, including spending during the period to enhance it or restructure its operation; and internal reporting showing performance better than expected. A sign may also mean the asset's remaining life, method or residual value needs revising even if nothing is reversed. The loss is reversed only if the estimates underlying recoverable amount have changed since the loss was last recognised, such as a switch between fair value less disposal costs and value in use, where value in use was the basis, a change in cash flow amounts or timing or in the discount rate, or a change in the components of fair value less disposal costs; where they have, carrying amount is raised to recoverable amount subject to the cap in paragraph 117. An increase arising only because future cash flows are nearer in time, the unwinding of the discount, does not justify a reversal because the asset's service potential has not risen.