Current Issues in Pensions Financial Reporting - 31 March 2020

This note is for those who will be involved in preparing and auditing pension disclosure under Accounting Standards FRS102 (UK non-listed), IAS19 (EU listed) and ASC715 (US listed) as at 31 March 2020.  

We look at the current topical issues – including the impact of Covid-19 on accounting positions – as well as the latest considerations for company directors when setting assumptions, and for auditors when determining whether the assumptions are appropriate.

This briefing also sets out some of the technical issues relevant to those involved in the preparation and the audit of pension disclosures.

There are a number of areas where auditors might look to get more involved than usual this year, so it’s important that companies are getting robust advice that can give their auditors the justification they need. 

Here are some pf the key areas tackled in this report:

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