IFRIC issued a new Interpretation entitled
IAS 19 - The Limit on a Defined Benefit Asset, Minimum Funding Requirements and their Interaction.
IFRIC 14 provides general guidance on how to assess the limit in
IAS 19 Employee Benefits on the amount of a pension fund surplus that can be recognised as an asset. It also explains how the pensions asset or liability may be affected when there is a statutory or contractual minimum funding requirement.
IFRIC 14 is effective for annual periods beginning on or after 1 January 2008. Earlier application is permitted. This newsletter explains the requirements of
IFRIC 14.
Newsletter
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