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EFRAG published its comment letter to the IASB on its ED/2013/4 'Defined Benefit Plans: Employee Contributions' on 17 July 2013. The feedback statement describes the main comments that EFRAG received in response to its draft comment letter and how those comments were considered by EFRAG when defining its position on the Exposure Draft as expressed in its comment letter to the IASB.
All respondents expressed their general support for the IASB’s proposed amendments and particularly noted that the ED:
(a) Clarifies the existing requirements in IAS 19 (2011) on accounting for contributions from employees or third parties and/or provides relief to preparers on this topic; and
(b) Addresses an existing inconsistency in IAS 19 (2011) regarding the attribution of contributions from employees or third parties.
However, a few respondents believed that the proposed practical expedient is merely a clarification of the existing requirements in paragraph 93 and suggested that the Basis for Conclusions be amended rather than the standard itself.
In addition, nearly half of the respondents raised a number of specific concerns, including changes in the scope and wording of the practical expedient, which are described in the next sections.