ASB reconsiders reporting of pension deficits - papers 14th Oct

The ASB, which is responsible for the accounting standard FRS17 - which forces companies to outline pension deficits on their accounts - said despite the criticism it thought it was "a good standard,” says the Daily Telegraph. Ian Mackintosh, ASB chairman, said questions had been asked on whether some of the requirements were quite right. The FRS17 accounting standard was first published in November 2000, and drives the calculation of pension deficits, or less frequently surpluses, in company accounts. Pension black hole publicity has had a damaging effect, and helped to fuel the pen...