The International Financial Reporting Interpretations Committee (IFRIC) released on August 24, 2006, a draft interpretation regarding the International Accounting Standard (IAS 19) “The Assets Ceiling: Availability of Economic Benefits and Minimum Funding Requirements”.
IFRIC’s principal role is to consider, on a timely basis within the context of International Financial Reporting Standards and the International Accounting Standards Board (IASB) Framework, accounting issues that are likely to receive divergent or unacceptable treatment in the absence of authoritative guidance, with a view to reaching consensus on the appropriate accounting treatment.
For more information please visit the following website: www.iasb.org