Exactly right. Auditors would question why not impairing the carrying value compared to the decline in MC.
I also posted here before Simon Hay started that he would most likely push for non cash impairments. All new CEO’s do, they want a clean slate and have the lowest starting point on as many metrics as possible, how else can he look like a hero in the future.
My only surprise is that its not more TBH.
Ann: Non-Cash Impairment, page-12
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