Narrow scope amendments to IAS 19 and IFRIC 14 - IFRIC

Date recorded:

At its meeting on March 14-15, 2017, the IFRIC discussed discussed the implications of not excluding minor plan events (i.e. plan amendments, curtailments or settlements for which the past service cost, or gain or loss on settlement, would not be material) from the scope of the amendments to IAS 19. The Committee recommended that the IASB should: (i)  not explicitly exclude minor plan events from the scope of the amendments to IAS 19; (ii) explain in the Basis for Conclusions how the amendments would affect an entity’s assessment of materiality when applying the requirements in paragraph 99 of IAS 19; and (iii) remove the reference in paragraphs BC17 and BC19 of the Exposure Draft to the frequency and timing of remeasuring the net defined benefit liability.

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

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