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IFRIC Matters

Date recorded:

The Board noted a general summary of IFRIC projects.

IFRIC draft interpretation on multi-employer plans

The Board considered the draft IFRIC interpretation on multi-employer plans. The staff noted that the draft interpretation proposed an amendment to IAS 19 to exempt entities whose employees are in a state pension plan from defined benefit accounting and this required Board approval to expose. The Board expressed concern as to the definition of a state plan and requested the staff to reconsider the definition to ensure it is limited to government plans.