ASB welcomes Amendment to International Pensions Standard

The Accounting Standards Board (ASB) welcomed the amendment to International Accounting Standard (IAS) 19 issued December 16, 2004, by the International Accounting Standards Board (IASB). The amendment modifies three aspects of the international standard, making it more convergent with the UK standard FRS 17, which itself comes into full effect from 1 January 2005 for UK entities not subject to International Financial Reporting Standards (IFRSs).

See press release.