Taking Stock - Actuaries are counted out.
Despite years of inadequate pensions reporting by UK companies, actuaries are bemoaning the imminent introduction of a new accounting standard on corporate pension disclosure. Now we hear that the Accounting Standards Board and various actuaries’ representatives have exchanged a few brusque words concerning the inception of the new standard, FRED 20. Here at TS we thought the kerfuffle might have something to do with the complexities and additional paper work that this new rule required. But, apparently not. After making deeper inquiries, TS noticed that FRED 20 will dramatically reduce the amount of work for actuaries. Their moaning is coincidence, we’re sure.