The IASB has published for comment a Discussion Paper “Preliminary Views on Amendments to IAS 19 Employee Benefits”. The IASB intends to issue a revised IAS 19 by 2011. The paper is a first step in a comprehensive project on the accounting for post-employment benefit promises.
This step is limited in scope to the following issues:
- The deferred recognition of some gains and losses arising from defined benefit plans (currently IAS 19 allows multiple options for deferring recognition).
- Presentation of defined benefit liabilities.
- Accounting for benefits that are based on contributions and a promised return.
- Accounting for benefit promises with a 'higher of' option.
The IASB intends to work with the US FASB towards a common standard on post-employment benefit promises. Because that project will take many years to complete, the Board concluded that short-term improvements are needed to provide users with better information about post-employment obligations.
Deadline for responses is 26 September 2008.
Press release
The discussion paper “Preliminary Views on Amendments to IAS 19 Employee Benefits” will be freely available on the IASB Website from 7 April.
© IASB - International Accounting Standards Board
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