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Narrow-scope amendments to IAS 19 and IFRIC 14 - IFRIC

Date recorded:

At its meeting on September 6-7, 2016, the IFRIC discussed a summary of the feedback on the Exposure Draft and recommended that the Board finalize the proposed amendments to IFRIC 14 and IAS 19 subject to some drafting changes.

The Interpretations Committee also recommended to the Board that:

  1. an entity should apply the amendments to IFRIC 14 retrospectively (with an exemption for adjustments to the carrying amount of assets outside the scope of IAS 19);
  2. an entity should apply the amendments to IAS 19 prospectively;
  3. no transition relief should be provided for first-time adopters; and
  4. an entity should apply the proposed amendments for annual reporting periods beginning on or after January 1, 2019, with earlier application permitted.

The Board will discuss the Interpretations Committee's recommendations at a future Board meeting.

Review the IFRIC Update on the IASB's Web site.

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