EFRAG has issued its draft comment letter in response to the Discussion Paper on Preliminary Views on Amendments to IAS 19 Employee Benefits.
EFRAG has issued its draft comment letter in response to the Discussion Paper on Preliminary Views on Amendments to IAS 19 Employee Benefits.
- EFRAG welcomes the publication of the DP and agrees that some short-term improvements to IAS 19 are needed.
- EFRAG agrees with the proposal that the value of the plan assets and post-employment benefit obligations should be recognised in full and immediately. No corridor approach should be used.
- However, EFRAG does not believe the existing requirements on the presentation of changes in the value of plan assets and of post-employment benefit obligations in the performance statement(s) should be changed through this short-term project.
- EFRAG does not agree with the inclusion of what are defined as ‘contribution-based benefit promises’ in the scope of the project. Not only do we have concerns about what is being proposed, we also think the IASB’s objective should be to publish a final standard in 2010 and we think that addressing ‘contribution-based benefit promises’ in this project will put that timetable at risk.
Deadline for comments is 24 September 2008.
Press release
© EFRAG - European Financial Reporting Advisory Group
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