FRS102 / IAS19 Accounting Reports
The following information is relevant for employers with a year-end of 31 March.
This pre-accounting date briefing has been prepared by the Fund’s actuary, Barnett Waddingham, for all employers with a year-end date of 31 March 2023.
The following information is relevant for employers with a year-end date of 31 July 2022.
This post-accounting date briefing has been prepared by the Fund’s actuary, Barnett Waddingham, for all employers with a year-end date of 31 July 2022.
The standard report fee including additional charges for features or events for an employer which need to be taken into account (such as those listed below) for will be invoiced to the employer.
• Where an employer chooses their own assumptions;
• If there are additional calculations to be carried out if a surplus is revealed;
• When there are any staff transfers/movements to allow for;
• Allowance for actual inflation experience;
• If additional disclosures are required;
• An employer asks to receive their report by a particular deadline; or
• If auditors ask queries following receipt of the report.
Scheme employers need to discuss with their auditors and agree whether the standard approach is appropriate or alternatively, advise the Pension Fund of any requirements to apply any customised/bespoke assumptions to be used.
The accounting glossary and FAQs is provided to give the Pension Fund, Scheme employers and their advisers some further explanatory details about the accounting reports produced by the actuary. Whilst it complements the briefing note this document describes the fundamentals of the accounting standards and is only expected to be amended should those standards change.
This webinar will help Scheme employers understand the numbers in their IAS19 and FRS102 disclosures.
This webinar will help the Pension Fund and Scheme employers understand the key topics they need to consider for the March 2022 LGPS accounting exercise.
This webinar will help employers understand what to expect from their accounting disclosures this year.