IFRS® Standards

Availability of a Refund (Amend IFRIC 14)

Summary

The Accounting Standards Board (AcSB) is participating in the International Accounting Standards Board’s (IASB) project to amend IFRIC Interpretation (IFRIC) 14 IAS 19 — The Limit on a Defined Benefit Asset, Minimum Funding Requirements and their Interaction. This project was combined with proposed amendments to IAS 19 Employee Benefits at the exposure draft stage.

Staff Contact(s)

Nancy Estey, CPA, CA

Principal, Accounting Standards Board

Project Status

  • Information gathering

    Completed prior to January 2015

  • Approving project

    The IASB approved the project in January 2015

    The IASB split original project into two parts and issued Plan Amendment, Curtailment or Settlement (Amendments to IAS 19) in February 2018

    Task 3

  • Consulting stakeholders

    IASB issued an Exposure Draft, June 2015

    AcSB issued an Exposure Draft, July 2015

    AcSB consulted with several stakeholders with expertise in employee future benefits (including stakeholders representing audit firms and benefit consulting firms) in August 2015 and August 2017

  • Deliberating feedback

    The IASB and AcSB are deliberating comments on their Exposure Drafts

  • Final pronouncement

Meeting & event summaries


News


September 24, 2015

News

On September 24, 2015, the AcSB submitted a comment letter responding to the IASB's Exposure Draft issued in June 2015. The letter supports the proposed narrow-scope amendments to IAS 19 Employee Benefits and IFRIC 14 IAS 19 – The Limit on a Defined Benefit Asset, Minimum Funding Requirements and their Interaction with the exception of the transition requirements. The letter disagrees with requiring retrospective application because the cost of retrospective application exceeds the benefit. Entitles would incur time and expense to perform additional calculations that are not particularly meaningful. The letter suggests that the proposed amendments be applied prospectively. Read the AcSB letter posted by the IASB.

July 28, 2015

News

AcSB Exposure Draft – Remeasurement on a Plan Amendment, Curtailment or Settlement/Availability of a Refund from a Defined Benefit Plan (Proposed amendments to IAS 19 and IFRIC 14)

July 28, 2015. The AcSB has issued an Exposure Draft that corresponds to the IASB’s Exposure Draft on this topic. Stakeholders are encouraged to submit their comments, on the form provided, by October 19, 2015.

June 25, 2015

News

IASB Exposure Draft – Remeasurement on a Plan Amendment, Curtailment or Settlement/Availability of a Refund from a Defined Benefit Plan (Proposed amendments to IAS 19 and IFRIC 14)

June 25, 2015. The IASB has issued an Exposure Draft proposing amendments to IAS 19 Employee Benefits and IFRIC 14 IAS 19 — The Limit on a Defined Benefit Asset, Minimum Funding Requirements and their Interaction. Canadian stakeholders are encouraged to submit their comments to the IASB by October 19, 2015.

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.