The IASB has agreed to proceed with the main proposal of its exposure draft ‘Amendments to IAS 19: Actuarial Gains and Losses, Group Plans and Disclosures’. This will enable the recognition of actuarial gains and losses in full in the period in which they occur outside of profit or loss in a statement of recognised income and expense. The significance of this for UK companies who are making the transition to IFRS is that they will be able to adopt a form of accounting similar to that required by FRS 17 ‘Retirement Benefits’. They will thus be able to ensure their financial statements provide full transparency for their pension obligations and their accounting for the assets and liabilities relating to them.