The International Accounting Standards Board (IASB) has published this Exposure Draft to set out the proposed amendments to IAS 19 Employee Benefits. This Exposure Draft addresses the accounting for contributions from employees or third parties when the requirement for such contributions is set out in the formal terms of a defined benefit plan. It proposes that such contributions may be recognised as a reduction in the service cost in the same period in which they are payable if, and only if, they are linked solely to the employee’s service rendered in that period.

Invitation to comment

ASB invites comments on the said Exposure Draft from the public. The downloadable version of the Document is available at:www.ifrs.org/Current-Projects/IASB-Projects/Defined-Benefit-Plans-Employee-Contributions/Exposure-Draf-March%202013/Documents/ED-Amendments-to-IAS-19-Employee-Contributions.pdf 

Comments would be most helpful if they indicate the specific paragraph or group of paragraphs to which they relate, contain a clear rationale and, where applicable, provide a suggestion for alternative wording.

Comments should be submitted in writing to the Secretary, Accounting Standards Board, The Institute of Chartered Accountants of India, ICAI Bhawan, Post Box No. 7100, Indraprastha Marg, New Delhi-110002, so as to be received not later than June 20, 2013. Comments can also be sent by e-mail at asb@icai.in