close

Newsroom

MGI Worldwide international accounting network's Global IFRS Group publishes amendments to IAS 19 Employee Benefits

18th October 2018

MGI World IAS 19 518x365.jpg

MGI Worldwide’s Global IFRS Group has prepared a paper to explain the amendments to IAS 19 Employee Benefits issued in February 2018 by the International Accounting Standards Board (IASB), which addresses the accounting when a plan amendment, curtailment or settlement occurs during a reporting period.

The paper explains that if a plan amendment, curtailment or settlement occurs, it is now mandatory that the current service cost and the net interest for the period after the remeasurement are determined using the assumptions used for the remeasurement. In addition, amendments have been included to clarify the effect of a plan amendment, curtailment or settlement on the requirements regarding the asset ceiling. The amendment of IAS 19 might mean that the net defined benefit liability is measured more often. The amendments are applied prospectively to plan amendments, settlements or curtailments that occur on or after 1 January 2019.

DOWNLOAD the complete IAS 19 Employee Benefits Paper HERE

Contact MGI Worldwide’s Global IFRS Experts

MGI Worldwide’s team of Global IFRS Experts deal with IFRS on a daily basis, share knowledge and best practices, and ensure the correct application of IFRS on a global consistent basis. For more information visit www.mgiworld.com/globalifrs

_____________________________________________________________________________________________

Don’t forget to connect with MGI Worldwide on social media!

You can stay in touch and keep up-to-date with what’s happening across the MGI Worldwide international network on LinkedInFacebookTwitter, and more recently on our NEW YouTube channel where we post new updates regularly. Simply search “MGI Worldwide” and click to Follow us, and subscribe to our new YouTube channel to help us reach 100 subscribers or more. 

MGI Worldwide is a top 20 ranked international accounting network with some 5,000 independent auditors, accountants and tax experts in over 260 locations around the world.

Read more on Member white papers and Europe

MGI World 2 members of MGI Sofakis interacting in the 2020 Talent Meeting

MGI Sofakis Partners and atc Certified Public Accountants, in Greece, flag the positive opportunities created by the merger between MGI Worldwide and CPAAI. Read their Success Story!

19th October 2020

The merger between MGI Worldwide with CPAAI has increased opportunities for network and association...

MGI World New member firm Vizyon logo

MGI Worldwide with CPAAI is pleased to welcome a new member in Turkey as our global network and association continues to grow in the Europe Region

7th October 2020

Based in Istanbul, Turkey’s economic hub, new member firm Vizyon has been providing tax, auditing...

MGI World Tuscany's landscape with MGI Vannucci & Associati logo overlaid

Interested in knowing more about investing safely in Italy? MGI Worldwide with CPAAI member firm, MGI Vannucci & Associati explains how in Italy’s The Florentine Magazine

22nd September 2020

Italy's online newspaper for internationals, The Florentine, has published an article by global...