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EFRAG updates endorsement status report for IAS 19 amendments

  • EFRAG (European Financial Reporting Advisory Group) (dk green) Image

28 Nov 2013

The European Financial Reporting Advisory Group has released an updated endorsement status report to reflect the recent issue by the International Accounting Standards Board (IASB) of amendments to IAS 19 'Employee Benefits'.

Defined Benefit Plans: Employee Contributions (Amendments to IAS 19) was issued on 21 November 2013 and clarifies the requirements that relate to how contributions from employees or third parties that are linked to service should be attributed to periods of service. In addition, the amendments permit a practical expedient if the amount of the contributions is independent of the number of years of service, in that contributions, can, but are not required, to be recognised as a reduction in the service cost in the period in which the related service is rendered. 

The amendments are effective for annual periods beginning on or after 1 July 2014, however the endorsement status report indicates that the endorsement process is currently expected in the third quarter of 2014.

The endorsement status report, dated 27 November 2013, is available here.

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