The International Accounting Standards Board (IASB) published a discussion paper Preliminary views on amendments to IAS 19 Employee benefits for public comment.
To initiate comments, the discussion paper provides some views on how the accounting for post-employment benefits could be improved. Some comments from constituents have indicated that:
- the deferral of recognition of gains and losses provide misleading figures
- the multiple options for the deferral of recognition also leads to incomparable information between entities
- there is a lack of clarity in the definition of benefit promises causes inconsistencies
The Australian Accounting Standards Board (AASB) has also issued this discussion paper for comment by Australian constituents.
The IASB plans to issue an exposure draft at the next stage after deliberating on constituentsÂ’ comments with a view to issuing a revised standard by 2011.
CPA Australia will respond to the AASB and IASB. Members are encouraged to email their comments to: professionalstandards@cpaaustralia.com.au by Friday 15 August.
Further information
