The Accounting Standards Board has issued a draft report setting out proposals for changes to be made to pensions accounting standard FRS17.

Following the Financial Reporting Exposure Draft release, the ASB is seeking comment on the proposals.

’The ASB has been reviewing the disclosures for defined benefit schemes in the light of concerns expressed by commentators that financial statements do not contain sufficient information to allow their users to adequately assess the risks arising from defined benefit schemes,’ the ASB said.

The ASB said the draft proposals took into consideration the ‘significant changes that have been made to the UK regulatory regime for pensions since FRS17 was developed’.