Exposure Draft on Remeasurement on a Plan Amendment Curtailment or SettlementAvailability of a Refund from a Defined Benefit Plan (Proposed amendments to IAS 19 and IFRIC 14)

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 19The 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:

http://www.ifrs.org/Current-Projects/IASB-Projects/IAS-19-Remeasurement-amendment-curtailment/Documents/ED_Proposed%20amendments%20to-IAS-19-and-IFRIC-14_JUNE%202015.pdf

How to comment

Comments should be submitted using one of the following methods: 

  1.         Electronically:   Click on the below mentioned option to submit a comment letter or     

Visit at the following link (Preferred method):

                                       http://www.icai.org/comments/asb/   

  1. Email:                Comments can be sent to: commentsasb@icai.in 
  1. Postal:                Secretary, Accounting Standards Board,

                                       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

Comment letter deadline

The Exposure Draft is open for comment until 18th September, 2015

Due process documents
Exposure Draft on Remeasurement on a Plan Amendment Curtailment or SettlementAvailability of a Refund from a Defined Benefit Plan (Proposed amendments to IAS 19 and IFRIC 14)  [PDF]