IASB will form an employee benefits working group
10 Oct 2006
The International Accounting Standards Board is seeking members for a new Working Group to help in its new project on Employee Benefits.
The project, to be conducted in two phases, will be a comprehensive review of the accounting required by IAS 19 Employee Benefits. The first phase will consider revisions that would achieve significant improvements in the short term, with a view to an interim standard being issued in three or four years' time. As the first step in its due process the IASB intends to publish a discussion paper in 2007. The issues to be included in the first phase of the project are:
- accounting for intermediate risk plans (including cash balance plans), including definition of defined benefit and defined contribution arrangements
- smoothing and deferral mechanisms
- presentation and disclosure
- treatment of settlements and curtailments.
