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GUARDIAN MEDIA LIMITED AND ITS SUBSIDIARIESNOTES TO THE CONSOLIDATED FINANCIAL STATEMENTSFOR THE YEAR ENDED 31 DECEMBER 2019(Expressed in Thousands of Trinidad and Tobago Dollars, except where otherwise stated)(Continued)2.%u0009 Significant accounting policies (continued)iii) Changes in accounting policies and disclosures (continued)New and amended standards and interpretations (continued) IAS 19 - Employee Benefits Amendments - Plan Amendments, Curtailment or SettlementThe amendments specify that when a plan amendment, curtailment or settlement occurs during the annual period, an entity is required to: %u2022 Determine current service cost for the remainder of the period after the plan amendment, curtailment or settlement using the actuarial assumption used to remeasure the net defined liability (asset) reflecting the benefits offered under the plan and the plan assets after that event. %u2022 Determine net interest for the remainder of the period after the plan amendment, curtailment or settlement using: the net defined benefit liability (asset) reflecting the benefits under the plan and the plan assets after that event; and the discount rate used to remeasure that net defined benefit liability (asset). The amendments also clarify that an entity first determines any past service cost, or a gain or loss on settlement, without considering the effect of the asset ceiling. This amount is recognized in profit or loss. An entity then determines the effect of the asset ceiling after the plan amendment, curtailment or settlement. Any change in that effect, excluding amounts included in the net interest, is recognized in other comprehensive income. The amendments apply prospectively to plan amendments, curtailments or settlements that occur on or after the date of first application. These amendments have no impact on the Group as no plan amendments, curtailments or settlements occurred during the annual period.50 GUARDIAN MEDIA LIMITED AND ITS SUBSIDIARIES ANNUAL REPORT 2019