IAS 2

CONFIDENTIAL—NOT TO BE
DISTRIBUTED TO UNAPPROVED
PARTIES, THE PUBLIC OR PRESS

IASB MEETING
LONDON, SEPTEMBER 2004
AGENDA PAPER 15B

First Pre-ballot Draft of “Proposed Amendments to IAS 37 Provisions, Contingent
Liabilities and Contingent Assets and IAS 19 Employee Benefits”

Staff contact: Henry Rees, [phone], [e-mail]

page 1

Exposure Draft of Proposed
AMENDMENTS TO
IAS 37
PROVISIONS, CONTINGENT LIABILITIES AND
CONTINGENT ASSETS
IAS 19
EMPLOYEE BENEFITS
Comment to be received by X MONTH 2004

page 2

Contents
Introduction
Proposed Amendments to IAS 37 Provisions, Contingent Liabilities and
Contingent Assets
Invitation to Comment
Summary of Main Changes
Contents
Standard
Appendix: Amendments to Other Pronouncements
Basis for Conclusions
Illustrative Examples
Proposed Amendments to IAS 19 Employee Benefits
Invitation to Comment
Summary of Main Changes
Contents
Amended Paragraphs of Standard
Basis for Conclusions

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Introduction
1.

This Exposure Draft has been issued by the International Accounting Standards
Board as a result of two of the Board’s projects: the Short-term Convergence project and the second phase of the Business Combinations project.

2.

The Short-term Convergence project being undertaken jointly with the Financial
Accounting Standards Board (FASB) in the United States has the objective of reducing differences between International Financial Reporting Standards
(IFRSs) and US generally accepted accounting principles (US GAAP) that are capable of resolution in a relatively short time and can be addressed outside current and planned major projects. It is one strand of the Board’s broader objective of convergence of accounting standards around the world that underlies much of the Board’s work.

3.

One aspect of the joint short-term convergence project involves the two boards considering each other’s recent standards with a view to adopting high quality