US PENSIONERS are about to be clobbered with the effects of FRS17 accounting rules, the FT says, as ...
US PENSIONERS are about to be clobbered with the effects of FRS17 accounting rules, the FT says, as US pension funds adopt UK accounting practices ahead of the adoption of International Accounting Standards Board rules. The FT quotes Robert Herz, head of the US Financial Accounting Standards Board as saying he wants to adopt FRS17 to halt the current practice of padding out pension funds with gains that occurred in the past – a tactic widely employed in the US today to cover any potential fund deficits caused by falling stock markets. The chances of adopting FRS17 are high, th...
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