Goodwill triggering event relief provided to private companies and NFPs

The Financial Accounting Standards Board voted today to provide private companies and not-for-profits with an alternative to monitoring goodwill triggering events and potentially measuring goodwill impairment throughout the fiscal year. Under the alternative, companies will be able to assess triggering events at the reporting date. The final standard is expected to be issued in time for most calendar-year companies to take advantage of the relief with respect to their 2020 financial statements.