Viva Energy reports $25m impairment after ASIC-prompted accounting changes
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The news: Viva Energy has reported an additional $25 million impairment expense for the year ending 31 December 2025 following a review undertaken through corporate regulator ASIC’s financial reporting and audit surveillance program.
The numbers: Viva Energy recorded a total impairment expense for its retail convenience sites of $558.8 million in the year ended 31 December 2025, of which $25 million is attributable to the accounting adjustment in line with ASIC’s view.
The context: ASIC raised concerns about Viva’s approach to impairment testing for convenience stores following a review of its financial report for the year ended 31 December 2024.
This related to an assessment of sites as a group rather than each individual asset on the basis that the Shell Card is a wholesale offering across Viva’s Australia-wide network.
ASIC said this was not appropriate and violated accounting standard AASB 136, which says entities tested for impairments only be assessed at a group level if “the recoverable amount of an individual asset cannot be determined”, the regulator said.
The source: ASIC media release
