22 August 2007

IFRIC 14 Questions & Answers

On 5 July 2007 the International Financial Reporting Interpretations Committee (IFRIC) published Questions & Answers (Q & A's) for IFRIC 14 IAS 19—The Limit on a Defined Benefit Asset, Minimum Funding Requirements and their Interaction.

These Q & A's provide a simple introduction to IFRIC 14 to give a general idea of its scope and effect. Whether and how IFRIC 14 applies to a specific entity will depend on the exact terms of the pension plan and the regulatory requirements in the relevant jurisdiction, and should be determined by reference to IFRIC 14 itself, not these Q & A's.

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