| Charity commission to hold FRS 17 consultation |
|
|
| 03/04/2002 | |
|
by Nat Mankelow The Charity Commission has announced plans to hold a consultation with the sector about the accounting standard FRS 17. FRS17 will change the way groups account for defined benefit pension schemes because the elements of the pension cost will have to be included in the relevant expenditure categories of an annual report, and any recoverable surplus or deficit will appear on the balance sheet. It becomes fully mandatory for accounting periods ending on or after June 22 next year, and up to 5,000 registered UK charities could be affected. The Commission plans to find out the views of charities, auditors, professional bodies, and relevant government departments during the consultation, beginning in June. Rosie Chapman, the Commission's policy director, says: "The challenge facing trustees will be explaining to funders and other users of the accounts the funding impact of a disclosed surplus or deficit." |
|
© Copyright 2008 bfinance. This document is for your personal non-commercial use. Any further copying, reproduction, distribution is strictly prohibited. To obtain permission please contact This e-mail address is being protected from spam bots, you need JavaScript enabled to view it