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IAS Plus Newsletter on proposed amendments to IFRIC 14

Jun 26, 2009

On 28 May 2009, the IASB published an exposure draft of proposed amendments to IFRIC 14 'IAS 19 – The Limit on a Defined Benefit Asset, Minimum Funding Requirements and their Interaction'.

The proposed amendments are aimed at correcting an unintended consequence of IFRIC 14, which is that technically, in some circumstances, entities are not permitted to recognise as an asset some prepayments for minimum funding contributions.

The ED proposes to correct the problem. Comments on the ED are due 27 July 2009. Deloitte's IFRS Global Office has published an IAS Plus Update Newsletter Explaining the Proposed Amendments to IFRIC 14 (PDF 73k). Past issues of all IAS Plus newsletters are Here.