THE FRC has extended the scope of its technical actuarial standards (TASs) to include actuarial work on pension incentive exercises.
The reporting watchdog’s move is intended to address concerns that members of defined benefit schemes may be misled by financial incentives being offered into giving valuable pension benefits.
Commenting on the announcement, Olivia Dickson, chairman of the FRC’s Actuarial Council, said: “It is important that members are provided with clear, reliable and sufficient information so that they can take informed decisions.
“In order to provide greater assurance of the quality of actuarial information provided, the FRC has decided to bring incentive exercises into the scope of the Pensions TAS.”
The UK’s decision to leave the EU has raised questions about whether the FRC's regulatory framework should change in the future
Company boards must pay more attention to instilling the right corporate culture in order to restore trust in business and deliver long-term sustainable growth, according to the FRC
Despite the high levels of tendering and rotation, the Big Four’s share of the FTSE 350 market has risen from 96.7% to 97.4%, the FRC finds
The FRC has highlighted the things directors should consider when preparing their forthcoming half-yearly and annual financial reports post Brexit