APB issues new pension rules
Auditing Practices Board revises occupational pensions guidance
The Auditing Practices
Board has revised its practice note for the auditing of
occupational pension schemes.
A consultation draft of the revised Practice Note was issued in August 2006
for public comment, and the revised guidance has been released.
Richard
Fleck , APB chairman, said that although a number of the
regulatory
arrangements for occupational pensions had changed, the substance
of the practice note was still relevant and did not need significant revision.
‘I hope that auditors of occupational pension schemes will find the revised
guidance helpful,’ said Fleck.
Further reading:
Association of British Insurers pans FRS17
PwC finds more professionalism on trustee boards