IAS-26 Accounting and Reporting by Retirement Benefit Plans (Summary)
Overview
Specifies the measurement and disclosure principles for the financial reports of retirement benefit plans.
Summary
Sets out the reporting requirements for the reporting by defined contribution and defined benefit plans, including the need for actuarial
valuation of the benefits for defined benefits and the use of fair values for plan investments.
IAS 26 prescribes the minimum content of the financial statements of retirement benefit plans. It requires that the financial statements of a defined benefit plan must contain either:
- a statement that shows the net assets available for benefits; the actuarial present value of promised retirement benefits, distinguishing between vested benefits and non-vested benefits; and the resulting excess or deficit; or
- a statement of net assets available for benefits including either a note disclosing the actuarial present value of promised vested and non-vested retirement benefits or a reference to this information in an accompanying actuarial report.
Source:
- Phnom Penh HR
- ifrs . org/issued-standards/list-of-standards/ias-26-accounting-and-reporting-by-retirement-benefit-plans/