AASB 136 Impairment of Assets 8-11: Assess at every reporting date whether any indicator of impairment exists and, if so, estimate recoverable amount; regardless of indicators, test indefinite-life and not-yet-available intangibles and acquired goodwill at least annually, at the same time each year, and within the year of first recognition

What does 8-11 require?

At every reporting date the entity looks for any sign of possible impairment of an asset, and where one exists it makes a formal estimate of recoverable amount. Three asset types are tested annually whether or not a sign exists: intangible assets with an indefinite useful life, intangible assets not yet ready for use (because their ability to recover their carrying amount is more uncertain before use), and goodwill acquired in a business combination (tested under paragraphs 80 to 99). The annual test may fall at any point in the year provided the timing is kept constant year to year, different intangibles may be tested at different dates, and an intangible first recognised during the year is tested before that year ends.