Regulatory Alerts2026-04-13
Viva Energy reassesses accounting approach after ASIC review, resulting in $25 million impairment
The Australian Securities and Investments Commission (ASIC) required Viva Energy Group Limited to change its accounting judgment regarding impairment testing for convenience retail sites. This regulatory intervention resulted in a $25 million increase in impairment expenses for the year ended 31 December 2025, as the group approach was deemed inappropriate under AASB 136. Viva Energy subsequently revised its methodology to assess these assets at the individual level in compliance with ASIC's view on financial reporting standards.
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