John Ralfe, its head of corporate finance, told Accountancy Age: ‘You can make a better comparison of what’s happening in pension schemes. We think it’s a good thing. We’ve nothing to hide. Without wanting to sound too cynical, only if you have something to hide would you not want to apply for it.’
Under FRS 17 companies will have to measure assets and liabilities using market values rather than at historical cost. The standard will take effect in stages but by 2003 it will be fully effective.
Boots’ pension surplus comes in marked contrast to that of BT’s which reported a deficit of around £1bn. The company put the cash shortfall down to former employees’ longevity.
Since it was published FTSE companies have voiced concerns over the volatility the new standard will bring and analysts’ understanding.
Just one half of UK practices have implemented a pricing structure around auto enrolment implementation and advice - with many suffering increased costs
Deloitte's north-west Europe foray; BDO, Smith & Williamson investment paths; Shelley Stock Hutter; and Wilkins Kennedy discussed by editor Kevin Reed on our Friday Afternoon Live broadcast
Accountants should alter their perspective on auto-enrolment to maximise business opportunities, according to Eric Clapton.
Kevin Reed discusses whether new accountancy group Cogital can rival the Big Four...and its likely direction of travel