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Corporate Consulting - IASB Publishes IAS19 Exposure Draft
The IASB (International Accounting Standards Board) has published an Exposure Draft with proposed changes to the accounting standard IAS19 which deals with how companies should account for employee benefit schemes. The Exposure Draft is under consultation until September this year after which a revised standard will be published. A new ‘final’ standard is expected in the middle of 2011 but is unlikely to take effect until January 2013 at the earliest.
Whilst the Exposure Draft proposes a number of changes to IAS19, the IASB has stated that it does not intend at this stage to change how assets and liabilities are valued, in particular the choice of discount rate to be adopted.
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Related DocumentsIASB Publishes IAS19 Exposure Draft (157.19 KB, .pdf)