GLOBAL - The International Accounting Standards Board is planning to publish an ‘exposure draft' of amendments to certain aspects of IAS19 later this year, which will allow a firm to recognise certain assets within its holdings as reducing future pension contributions.

A staff paper published on the IASB website concerning amendments to IAS19 reveals the draft version of changes to IFRIC14 will be published in November, once the IASB board has voted and agreed on the document to be published.

The exact content of the amendment relates to IAS19 and "the limit on a defined benefit assets, minimum funding requirements and their interactions so that an entity recognises an asset for a prepayment that will reduce future contributions the entity would otherwise have to make".

A timetable of events shows the draft and ballot will be completed sometime between August and October.