Commission Regulation (EC) No 1725/2003 of 29 September 2003 adopting certain international accounting standards in accordance with Regulation (EC) No 1606/2002 of the European Parliament and of the Council (Text with EEA relevance) (repealed) (c. 1725)

ANNEX

INTERNATIONAL ACCOUNTING STANDARD IAS 19 (REVISED 2002)

Employee Benefits

TERMINATION BENEFITS

Disclosure

141. Where there is uncertainty about the number of employees who will accept an offer of termination benefits, a contingent liability exists. As required by IAS 37, provisions, contingent liabilities and contingent assets, an enterprise discloses information about the contingent liability unless the possibility of an outflow in settlement is remote.

142. As required by IAS 8, net profit or loss for the period, fundamental errors and changes in accounting policies, an enterprise discloses the nature and amount of an expense if it is of such size, nature or incidence that its disclosure is relevant to explain the performance of the enterprise for the period. Termination benefits may result in an expense needing disclosure in order to comply with this requirement.

143. Where required by IAS 24, related party disclosures, an enterprise discloses information about termination benefits for key management personnel.