Employer-sponsor receivables (AASB1056_06-14_COMPmay19_01-20)

An asset relating to an employer-sponsor receivable shall be recognised to the extent there is a difference between a defined benefit member liability and the fair value of assets available to meet that liability that meets the definition and recognition criteria for an asset in the Conceptual Framework for Financial Reporting (as identified in AASB 1048 Interpretation of Standards).

Notwithstanding paragraph 18, in respect of AusCF entities, an asset relating to an employer-sponsor receivable shall be recognised to the extent there is a difference between a defined benefit member liability and the fair value of assets available to meet that liability that meets the definition and recognition criteria for an asset in the Framework for the Preparation and Presentation of Financial Statements (as identified in AASB 1048 Interpretation of Standards).

An asset recognised in accordance with paragraph 18 shall be measured consistently with the measurement of defined benefit member liabilities less the relevant amount of the other recognised assets held to meet those liabilities.