Defined Benefit Plans: Employee Contributions (Amend IAS 19)

BACKGROUND

The Accounting Standards Board (AcSB) is participating in the International Accounting Standards Board’s (IASB) project to amend IAS 19 Employee Benefits addressing the accounting for contributions from employees or third parties.

(Read more)

The objective of the project is to respond to concerns about the complexity of applying requirements of IAS 19 to contributions for defined benefit plans from employees or third parties.

The AcSB is participating in the activities of the project to ensure that Canadian entities’ financial reporting needs are considered by the IASB. The amendments will be incorporated into Canadian GAAP in accordance with the AcSB’s strategy of adopting International Financial Reporting Standards (IFRSs) for publicly accountable enterprises.

(Hide)


PROJECT NEWS

Final Amendments – Defined Benefit Plans: Employee Contributions
November 28, 2013. The IASB has issued narrow-scope amendments to IAS 19 Employee Benefits to simplify the accounting for contributions from employees or third parties to defined benefit plans that are independent of the number of years of service.  The amendments are effective for annual periods beginning on or after July 1, 2014.

AcSB Response – Defined Benefit Plans: Employee Contributions (Proposed amendments to IAS 19)
July 30, 2013.  The AcSB has submitted a comment letter responding to the IASB’s Exposure Draft.

AcSB Decision Summary – July 10, 2013
The AcSB discussed the points to be included in its response letter to the IASB Exposure Draft, “Defined Benefit Plans: Employee Contributions (Proposed amendments to IAS 19).”

AcSB Exposure Draft – Defined Benefit Plans: Employee Contributions (Proposed amendments to IAS 19)
April 16, 2013. The AcSB has issued an Exposure Draft that corresponds to the IASB’s Exposure Draft on this topic. Canadian stakeholders are encouraged to submit their comments, on the form provided, by July 25, 2013.

IASB Exposure Draft – Defined Benefit Plans: Employee Contributions (Proposed amendments to IAS 19)
March 27, 2013.  The IASB has issued an Exposure Draft proposing amendments to IAS 19 Employee Benefits.  Canadian stakeholders are encouraged to submit their comments to the IASB by July 25, 2013.

 

Disclaimer: This project summary has been prepared for information purposes only. Decisions reported are tentative and reflect only the current status of discussions on this project, which may change after further Board deliberations. Decisions to publish Handbook material are final only after a formal ballot process.