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International Accounting Standard 19

In the May edition of The Multinational we set out details of the proposed changes to the international accounting standard IAS19 and described some of our key concerns with the proposals. The key issues were that the proposal to use a discount rate based on corporate bond yields was inappropriate and that the approach to amortisation of actuarial gains and losses could lead to excessive volatility of pension costs when applying the new standard, which would mean that in any one year the E54 benefit expense may not be a reasonable reflection of the underlying cost to the enterprise of operating the benefit plans.

Newsbriefs

Netherlands: WAO contributions New Zealand: Referendum result Spain: Foreign assets held by pension funds Sri Lanka: Provident funds United States: Employee benefit plan filings

International Assignment Policies in Asia

As companies transfer more and more employees across Asia, competitive and cost-effective international assignment policies for expatriates in the region are increasingly important. Watson Wyatt's new report'International Assignment Policies in Asia 1997/98' is an indispensable tool in designing a competitive, flexible and fair pay and benefits policy for expatriates in Asia.