The Board considered a proposal to amend IFRIC 14 IAS 19 - The Limit on a Defined Benefit Asset, Minimum Funding Requirements and their Interaction to eliminate an unintended consequence that arises from some voluntary prepayments to a defined benefit plan that is subject to a minimum funding requirement.
The Board tentatively decided to amend IFRIC 14 so that an entity recognises an asset for a prepayment that will reduce future contributions by the entity. (This is View C as set out in the observer notes). The staff will draft for written ballot an exposure draft proposing these changes.