IFRIC issues amendment to SIC-12
Nov 11, 2004
The IFRIC has amended the scope of Interpretation SIC-12 'Consolidation–Special Purpose Entities' to remove the scope exclusion for equity compensation plans.
Consequently, an entity that controls an employee benefit trust (or similar entity) set up for the purposes of a share-based payment arrangement will be required to consolidate that trust. The new amendment also expands the scope exclusion in SIC-12 for post-employment benefit plans to include other long-term employee benefit plans.
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