The Accounting Standards Board is going “back to basics” for its research project into pensions accounting. At stake are some of the most “thorny issues” of how to account for post-retirement benefits. The ASB is leading the project under the ‘Proactive Accounting Activities in Europe’ – “PAAinE” – banner coordinated by The European Financial Reporting Advisory Group and European national standards setters. “The board decided to adopt a ‘back to basics’ approach of examining the fundamentals of pensions accounting,” says project director Hans Nailor. The ASB is being assisted by a Pensions Advisory Panel appointed by the board and a pan-European Working Group selected by EFRAG.
“Back to basics”
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