The Institute of Chartered Accountants of India
(Setup by an Act of Parliament)
(Setup by an Act of Parliament)
Exposure Draft published by the International Accounting Standards Board (IASB) for comment only. Comments on the Exposure Draft need to be received by September 18, 2015.
The International Accounting Standards Board (IASB) has published this Exposure Draft of proposed narrow-scope amendments to its pension accounting requirements. The proposed changes are designed to improve information to investors and address some diversity in practice.
When a defined benefit plan is amended, curtailed or settled during a reporting period, the entity needs to update the assumptions about its obligation and fair value of its plan assets to calculate costs related to these changes. The proposed amendments to IAS 19 Employee Benefits specify that the entity is required to use the updated information to determine current service cost and net interest for the period followed by these changes.
The proposed amendments to IFRIC 14 IAS 19–The Limit on a Defined Benefit Asset, Minimum Funding Requirements address how the powers of other parties, such as the Trustees of the plan, affect an entity’s right to a refund of a surplus from the plan
Comments are invited on the proposals in this Exposure Draft, particularly on the question set out in the Exposure Draft.
Invitation to comment
ASB invites comments on the Exposure Draft from the public. The downloadable version of the draft is available at:
How to comment
Comments should be submitted using one of the following methods:
Visit at the following link (Preferred method):
http://www.icai.org/comments/asb/
The Institute of Chartered Accountants of India,
ICAI Bhawan, Post Box No. 7100,
Indraprastha Marg,
New Delhi 110 002
Further clarifications on this exposure draft may be sought by e-mail to achin.poddar@icai.in
The Exposure Draft is open for comment until 18th September, 2015