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 Laptop screen diplaying the announcement of the European Central Circle Zoom meeting

MGI Europe Central Circle Coordinators announce their first virtual Central Circle Meeting

30th April 2020

MGI Europe Central Circle Coordinators welcome fellow MGI Worldwide and CPAAI accountancy group...

MGI World image of Laszlo and all other participants on zoom call

From Hungary to Italy, members unite on key issues dealing with COVID-19

26th March 2020

László Killik, IC member for Europe and Partner at BPO AUDIT TAX in Budapest, Hungary, arranges a...

MGI World Collage of 3 pictures of George Farrugia with MGI Malta and MGI Worldwide logos and thank you message

As George Farrugia from MGI Malta enters retirement, we look back fondly at over 30 years of his time as an active member of our global accountancy network

25th March 2020

George Farrugia has represented MGI Malta as active members since the early nineties and has shown...