Pensions Accounting – Page 6
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News
IASB to seek views on future workplan; FRC sets out budget, priorities
The FRC said its projected spend for the coming year amounts to £52.2m (€60.7m). DB schemes are expected to contribute £1.2m under the pension scheme levy
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Features
Accounting Matters: Auditing the auditors
There is widespread consensus that the audit sector is not fulfilling its potential, and that previous attempts at reform have been ineffective. As the impact of high quality audit goes far beyond the boardroom, when pension funds rely on audited financial statements for their capital allocation decisions, it is ultimately their individual members’ capital that is at risk.
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News
ATP picks SimCorp’s SFTR reporting platform as EU regs kick in
Danish pension fund praises product’s ability to create complete picture for regulator
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News
UK roundup: FTSE 350 pension deficit finishes 2020 at £70bn
Mercer chief actuary emphasises de-risking importance
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Special ReportAccounting Matters - IAS 19: the negative view
Negative interest rates are probably the most daring policy move most of us will ever see. The idea that a borrower is paid to take out a loan, but a saver is penalised for setting aside money for their retirement turns our understanding of the fundamentals of finance on its head. But Europe has had them for more than a decade. And if the experience of today’s financial crisis is anything to go by, it will do so for a while longer yet. So where does this leave defined benefit (DB) sponsors and their accountants?
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NewsIFRS committee to forego project on DB periods of service attribution
Interpretations Committee rules requirements of IAS 19, Employee Benefits are clear
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News
Danish FSA dismayed by differences in how pension funds value alts
Watchdog says some unlisted asset types being revalued daily, but others quarterly
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FeaturesAccounting Matters: Accounting for the Wedge
The reason why defined benefit (DB) scheme sponsors account for inflation is because International Accounting Standard 19, Employee Benefits, tells them that if they make a benefit promise that is linked to price increases, the effect of that commitment has to be accounted for. The starting point for what by any standards is a gargantuan actuarial task is to look at yields on inflation-linked bonds.
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NewsDanish pension funds cooperate to clarify alternatives valuation habits
Project to shed light on when and how pension funds re-value their unlisted assets
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News
IASB urged to add projects on pensions accounting, sustainability reporting
The board is also conducting research into pension benefits that depend on asset return
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FeaturesAccounting Matters: Who sets the standards?
You are what you know, the saying goes. And it goes without saying that the 211 comment letters the International Accounting Standards Board (IASB) received on its Primary Financial Statements (PFS) project will represent some diverse viewpoints.
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NewsNearly two-thirds of listed DB sponsors have warned on profits this year
UK-listed DB sponsors are concentrated in industrial and consumer discretionary FTSE sectors
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FeaturesAccounting Matters - UK DB pension schemes: One step forward, two steps back
As sometimes happens with Easter, one of the surveys of the UK pensions accounting landscape from consultants Lane Clark & Peacock (LCP) was later than usual. And, like an Easter egg, this keenly awaited overview of the net funding position of FTSE 100 defined benefit (DB) pension schemes comes in two halves.
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News
IAS 1 faces UK endorsement challenge, LAPFF warns FRC
Once the UK leaves EU institutions at the end of this year, accounting standards will be handled by a new UK endorsement body
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Features
Accounting matters: Totalling the sub-totals
A project that at its simplest is about the layout of financial statements should be uncontroversial. But the International Accounting Standards Board’s Primary Financial Statements project faces a potentially big test.
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NewsSurvey: FTSE 350 discount rates narrow
‘Market volatility in the first half of 2020 led to falls in discount rates’
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News
Mercer survey reveals FTSE 350 DB accounting deficits skyrocket by £13bn
Total DB liabilities reached £970bn at the end of July
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News
LAPFF warns IASB proposals fail to satisfy UK post-Brexit legal test
The forum said that without ‘further substantial changes’ the new IFRS ‘as it stands is un-endorseable’.
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NewsFRC seeks members, views for stakeholder reporting panel
The project will include corporate reporting obligations under section 172 of the Companies Act 2006
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NewsIASB green light to revamp IAS 19 disclosure requirements
Plus: EU adopts proposal package for new IFRS 9 rule book; Amendements to IFRS 17
