|
|
19 May 2011
A NEW International Financial Reporting Standard could see UK pensions' reported profits reduced by as much as £10bn.
The revised IAS 19, due to be published this month and applicable to accounts from 2014 onwards, will improve transparency and comparability in pensions reporting, KPMG claimed.
Further reading
Profits will drop due to a move from subjective expected returns on assets credit to income with interest on the plan assets at the AA discount rate.
Mike Smedley, pensions partner at KPMG in the UK, said: "Our survey paints a relatively rosy picture for UK pensions this year ... [but] it is unclear how long these benign conditions may continue.
"The new IAS19, due later this month, might also start to change companies' views; some may reduce investment risk to coincide with the removal of the P&L credit for asset returns."
You may also like
Search thousands of financial jobs:
Search thousands of financial jobs:
Careers
Search for jobs
Click to search our database of all the latest accountancy roles
Create a profile
Click to set up your profile and let the best recruiters find you
Jobs by email
Sign up to receive regular updates with the latest roles suitable for you
Briefings
By looking at the reasons supplier statements became unfashionable, and the reasons why it is different today, this paper delves into the many benefits that can be obtained by automating the process.
Having a real and true view of your organisation’s current financial position, and having the right systems and processes in place, will ensure that you can make strong choices and are ready to capitalise on opportunities
AccountancyAgeInsight is a frequently updated resource centre for finance professionals, offering a free and easy-to-use digital library of briefings, white papers and other information resources. 
Visitor comments Add your comment