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ACCA opposes reform proposals for final salary scheme accounting

The Association of Chartered Certified Accountants has dismissed some of the proposed reforms to final salary pension scheme accounting principles as unnecessary.


ACCA expressed surprise that an Accountancy Standards Board discussion paper put forward the &#39immediate recognition option&#39 in the critical area of actuarial gains and losses.


ACCA believes that gains and losses should be spread throughout the life of the pension fund.


ACCA&#39s financial reporting committee chairman Brian Rutherford says: &#34This option was not supported in the UK last time around nor is it in line with the international standard.&#34


ACCA also believes that the ASB should wait for guidance from actuaries before finalising its position on discount rates.

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