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IPSASB publishes proposed changes to IPSAS 25 'Employee Benefits'

  • IPSASB (International Public Sector Accounting Standards Board) (mid gray) Image

14 Jan 2016

The International Public Sector Accounting Standards Board (IPSASB) has released for comment Exposure Draft ED 59 'Amendments to IPSAS 25, Employee Benefits'.

IPSAS 25 is based on IAS 19 Employee Benefits, which was later revised. The main changes that the IPSASB has proposed to IPSAS 25, so that convergence with IAS 19 is maintained to the extent appropriate, are:

  • Remove an option that allows an entity to defer the recognition of changes in the net defined benefit liability (the “corridor approach”);
  • Introduce the net interest approach for defined benefit plans;
  • Amend certain disclosure requirements for defined benefit plans and multi-employer plans; and
  • Simplify the requirements for contributions from employees or third parties to a defined benefit plan when those contributions are applied to a simple contributory plan that is linked to service.

Please click to access the press release and ED 59 on the IPSASB website. Comments are requested by 30 April 2016.

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