Final stage
On 25 September 2014, the International Accounting Standards Board issued Annual Improvements to IFRSs 2012–2014 Cycle. The amendments have an effective date of 1 January 2016.
About
The Interpretations Committee was asked to clarify the application of the requirements of IAS 19 Employee Benefits (2011) on determination of the discount rate to a regional market consisting of multiple countries sharing the same currency
The amendment clarifies that the depth of the market for high quality corporate bonds should be assessed at the currency level.
The amendment should be applied from the beginning of the earliest comparative period presented in the first financial statements in which the entity applies the amendment, with any cumulative catch-up adjustment recognised in opening retained earnings.
