Corporate Financial Reporting
The pension costs and liabilities disclosed in company accounts (whether under IFRS, Fair Value accounting, local GAAP or others) are coming under ever-increasing scrutiny from investors, regulators and the public.
A full understanding of the key parameters that drive the pension and employee benefit accounting figures will be critical to many companies, particularly in the light of regularly changing requirements.
Over the last years, corporate financial reporting (not so long ago, we used the term "accounting") of employee benefits has become a complex issue going far beyond traditional accounting as we have known for many years.
We assist CFOs, Financial Directors and Financial Departments of local, international and global companies on all aspects related to the financial reporting of employee benefits. Through our European and global network and offices, we can assist in:
- IFRS (International Financial Reporting Standards) ie IAS 19 / IFRS 2
- US GAAP ie FAS 87/88/132/158, UK GAAP ie FRS 17/20
- GAAP in European countries, Middle East and GCC countries and others
Beyond traditional pension benefits, this includes accounting, reporting and actuarial valuations for End-of-Service Benefits, post-retirement health care plans, employee share plans, long term performance bonus plans and other benefit arrangements.
We ensure we offer clarity by explaining the relevant issues to our clients and help them to understand the impact of employee benefit plans on their accounts. This ensures that our clients appreciate how the pension cost and employee benefit cost will react to various circumstances and enables us to identify early warning signs for issues before they arise.
Rather than simply crunching numbers or responding to technical queries, we focus with our approach on understanding our clients' objectives and on adding value by delivering commercially tailored insights.
We offer a selection of integrated modelling and reporting tools that allow reporting to be performed in a streamlined, and cost effective way, irrespective of the number of arrangements, or the number of countries, involved in the consolidation.