IFRIC statement clarifying IFRIC 14
23 Aug 2007
On 5 July 2007 the International Financial Reporting Interpretations Committee (IFRIC) issued IFRIC 14 IAS 19–The Limit on a Defined Benefit Asset, Minimum Funding Requirements and their Interaction.
Since the release of the Interpretation the IFRIC has observed several press articles and statements by market commentators providing an inaccurate assessment of the effect of IFRIC 14. Consequently, IFRIC has released a Statement Addressing the Key Issues that Have Been Raised (PDF 60k).
Key points made in the IFRIC statement (the statement explains each):
|