091117-Pension-Disclosures-CRR-thematic-review

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1、FinancialReportingCouncilCORPORATEREPORTINGTHEMATICREVIEWPENSIONDISCLOSURESNOVEMBER2017TheFinancialReportingCouncil(FRC)isresponsibleforpromotingtransparencyandintegrityinbusiness.TheFRCsetstheUKCorporateGovernanceandStewardshipCodesandUKstandardsforacc

2、ountingandactuarialwork;monitorsandtakesactiontopromotethequalityofcorporatereporting;andoperatesindependentenforcementarrangementsforaccountantsandactuaries.AstheCompetentAuthorityforauditintheUKtheFRCsetsauditingandethicalstandardsandmonitorsandenforc

3、esauditquality.TheFRCdoesnotacceptanyliabilitytoany©TheFinancialReportingCouncilLimited2017partyforanyloss,damageorcostshowsoeverTheFinancialReportingCouncilLimitedisaarising,whetherdirectlyorindirectly,whethercompanylimitedbyguarantee.incontract,tortor

4、otherwisefromanyactionRegisteredinEnglandnumber2486368.ordecisiontaken(ornottaken)asaresultofanypersonrelyingonorotherwiseusingthisRegisteredOffice:documentorarisingfromanyomissionfromit.8thFloor,125LondonWall,LondonEC2Y5ASCONTENTS1Background52Keymessag

5、es63ThedisclosurerequirementsofIAS19‘Employeebenefits’84Principalfindings94.1Explanationofdifferentvaluations94.2Fundinginfutureyears104.3Maturityprofileofobligation124.4Investmentstrategyrisks134.5Netpensionassets164.6Disaggregationofplanassets174.7Val

6、uationmethodologyforunquotedassets194.8Strategicreport214.9Otherfindings245Nextsteps25FinancialReportingCouncil3PensionDisclosuresThematicreviewssupplementtheFRC’smonitoringworkconductedbyCorporateReportingReview(CRR).CRRmonitorscompanyreportsandaccount

7、sforcompliancewiththeCompaniesAct2006,includingapplicableaccountingstandards,andotherreportingrequirements.Theaimofourthematicreviewsistoidentifyandshareexamplesofgoodpracticereportingandhighlightareaswhereimprovementscanbemade.Lowinterestratesandtheeco

8、nomicsofdefinedbenefitpensionarrangementshaveincreasedtheneedforcompaniestoimprovethetransparencyoftheirpensionreporting.Keytothisishelpingusersunderstandthefactorsthatcouldaffectthefutureexpenseandcashflowsofthecompany.Thisrepor