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CA Final · Financial Reporting · Ind AS 113 Fair Value Measurement

A CA Final student compares Ind AS 113 with IFRS 13. Which statement about paragraph 7(b), which refers to IAS 26 Accounting and Reporting by Retirement Benefit Plans, is correct?

Paragraph 7(b) of IFRS 13 refers to IAS 26 on retirement benefit plans, which is not relevant for companies, so Ind AS 113 deletes it. The paragraph number is still retained, keeping consistency with the IFRS 13 numbering, rather than renumbering later paragraphs.

  1. AIt is deleted in Ind AS 113 because IAS 26 is not relevant for companies, but its paragraph number is retainedCorrect
  2. BIt is retained unchanged because retirement benefit plans are within the scope of every Ind AS
  3. CIt is deleted and all later paragraphs are renumbered so that no gap remains
  4. DIt is retained but modified to refer to Ind AS 19 instead of IAS 26

Explanation

The comparison appendix states that paragraph 7(b) refers to IAS 26, which is not relevant for companies, so it is deleted. To stay consistent with IFRS 13 paragraph numbers, the number is retained. Hence renumbering or substitution with Ind AS 19 is not the stated treatment.

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