The Australian Securities & Investments Commission (ASIC) reported that Viva Energy Group Limited changed an accounting judgement in its financial report for the year ended 31 December 2025 following an ASIC financial reporting and audit surveillance review, increasing impairment expenses by AUD 25 million. ASIC’s review of Viva Energy’s 31 December 2024 financial report raised concerns about the company’s impairment testing for convenience retail sites, where some sites were assessed together within a Shell Card cash-generating unit (CGU) rather than on an individual site basis. Citing Accounting Standard AASB 136 Impairment of assets, ASIC took the view that impairment testing should be performed at the individual asset level where the recoverable amount can be determined, and that Viva Energy could assess recoverable amounts for each retail site included in the Shell Card CGU. Viva Energy’s 31 December 2025 financial report disclosed that it revised its judgement and now treats those sites as separate CGUs; total impairment expense for retail convenience sites was AUD 558.8 million, of which AUD 25 million (4.5%) was attributable to the change in approach.
Australian Securities & Investments Commission 2026-04-13
Australian Securities & Investments Commission review leads Viva Energy to revise impairment testing and recognise AUD 25 million additional impairment
The Australian Securities & Investments Commission reported that Viva Energy Group Limited revised an accounting judgement in its 31 December 2025 financial report following an ASIC surveillance review, increasing impairment expenses by AUD 25 million. ASIC had raised concerns over impairment testing for convenience retail sites, concluding that under AASB 136 these should be treated as separate cash-generating units where recoverable amounts can be determined, leading the company to change its approach and disclose total impairment expense of AUD 558.8 million for retail convenience sites.