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At-a-glance – Employee Future Benefits

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Apr 29, 2019

On April 29, 2019, the Accounting Standards Board (AcSB) released an article on the key points noted in a letter the AcSB wrote to the Canadian Institute of Actuaries to communicate its intent to reduce diversity arising in practice.

The AcSB considered an issue at its December 2018 meeting that stakeholders raised about the use of the funding valuation in measuring the defined benefit obligation in relation to Ontario’s Provision for Adverse Deviations. The AcSB decided not to undertake any standard-setting action, but rather communicate its intent.

The AcSB approved a new project to clarify its intent regarding the use of the funding valuation in measuring the defined benefit obligation in relation to Quebec’s Stabilization Provision. The AcSB plans to issue an exposure draft no later than the third quarter of 2019 in response to stakeholder feedback about diversity arising in practice on accounting for changes in pension legislation.

Review the press release and article on the AcSB's website.

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