All Pensions Accounting articles
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NewsGrant Thornton fined for below par audit of UK local authority pension fund
Failures included obtaining insufficient evidence that the value of investments was materially accurate
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NewsKeva fined for failing to make sure derivatives contracts were reported
CEO of Finland’s largest pension fund says Keva suffered no financial damage from the issues
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NewsUS GAAP stumbling block for Dutch DC switch
Several pension funds told regulator DNB the matter prevents them from making the transition to DC
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NewsUK pensions groups call for pension fund clearing exemption to be retained
The UK’s HM Treasury consultation on pension funds’ exemption from the clearing obligation closed on 5 January
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NewsIrish DB schemes’ average funding level above 100%
This marks the first time in 15 years of the LCP’s accounting survey that the average funding level has been above 100%
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NewsNo new accounting rules for net zero, IFRS committee decides
International standards, in particular IAS 37, deemed to provide ‘adequate basis’
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AnalysisAccounting standards: stuck between practicalities and principles on climate change
The International Accounting Standards Board is considering changing its rules on how companies make disclosures about climate-related and other so-called uncertainties in financial statements
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NewsATP tries to shift focus from investment losses to bonus capacity
Danish pensions giant says rising ability to increase pensions is a better measure of its financial health
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NewsAP3, AP4 eye faster investment decisions after joint IT procurement
Swedish buffer fund duo link up to replace current patchwork of systems with SimCorp’s comprehensive Dimension system, citing many advantages
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NewsIASB to explore options to improve accounting for climate, other risks
The board will likely focus on targeted changes covering topics such as estimates, disaggregation and materiality
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NewsKeva wins clearer picture of public-sector disability risk with new model
Finland’s biggest pension fund says early intervention can significantly reduce the risk and cost of worker incapacity
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Features
SASB grapples with universal appeal
In the ever-evolving landscape of corporate sustainability, the Sustainability Accounting Standards Board (SASB) has long been the guiding star for the 90% or so of companies in the S&P500 that use the standards to chronicle their environmental, social and governance journey.
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NewsIFoA highlights benefits of capital backed funding arrangements
CBFAs can ‘offer distinct benefits when compared with DIY approaches, superfunds, DB master trusts and conventional insurance risk transfer policies’
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NewsDanish FSA raps ATP and other pension funds over alternatives valuation
Pension firms must ensure necessary value adjustments take place sufficiently quickly and frequently, says FSA
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FeaturesAccounting: Corporate reporting at a crossroads
When the definitive history of modern corporate reporting is written, historians will no doubt step back in awe. They will marvel at the International Accounting Standards Board’s (IASB) decision to issue its management commentary proposals only to inherit the integrated reporting framework and then waste substantial energy grappling with the complexities of aligning or even merging the two.
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NewsNorway’s parliament votes for DB buffer capital changes
Legislation on guaranteed pension provisions passes first hurdle in Storting, but buffer fund ceiling likely to be reconsidered in the case of pension funds
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NewsFTSE 350 DB pensions schemes shift £5bn deficit to £38bn surplus
But ’there is every chance that 2022 will be a last hurrah for cash injections into DB schemes’, says WTW
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NewsISSB OKs amendments to align legacy SASB standards with IFRS S-2
The amendments are intended to enhance international applicability and remove inconsistencies and ill-adapted metrics
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FeaturesAccounting: Connectivity between ISSB and IASB on accounting standards
If you think we all agreed on what connectivity is, you are probably wrong. At least that is what the International Accounting Standards Board’s vice-chair Linda Mezon-Hutter seemed to imply at a recent meeting of the IFRS Foundation’s Accounting Standards Advisory Forum (ASAF).
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NewsISSB staff aiming for mid-year public consultation on changes to SASB standards
A committee of board members is reviewing a draft now to be voted on by the end of the month
