The great pensions debate over FRS 17

The red-hot debate, has drawn response from trade unions, pension fund managers, UK plcs and international standard setters.

In addition users can read an exclusive piece defending the measure by John Morley, senior lecturer in financial reporting at the University of Brighton.

FRS 17, which forces companies to account for pension assets and liabilities on the balance sheet, now takes effect in 2005

But trade unions have called for the standard to be scrapped while the National Association of Pension Fund Managers says its requirements should be ‘relaxed’.

The Accounting Standards Board, which developed the rule, has refused to back down despite a potential clash between FRS 17 and international accounting standards, which all EU companies must adopt by 2005.

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