This site uses cookies to provide you with a more responsive and personalised service. By using this site you agree to our use of cookies. Please read our cookie notice for more information on the cookies we use and how to delete or block them.
The full functionality of our site is not supported on your browser version, or you may have 'compatibility mode' selected. Please turn off compatibility mode, upgrade your browser to at least Internet Explorer 9, or try using another browser such as Google Chrome or Mozilla Firefox.

We comment on FRED 71 ‘Draft amendments to FRS 102 — Multi-employer defined benefit plans’

  • Deloitte FRC letters Image

14 Mar 2019

We have published our comment letter on the Financial Reporting Council’s (FRC’s) Financial Reporting Exposure Draft (FRED) 71 ‘Draft amendments to FRS 102 – Multi-employer defined benefit plans’

Overall, we recognise that there is currently widespread inconsistency in how entities account for a transition from defined contribution accounting to defined benefit accounting when sufficient information becomes available to do so. Although we believe there is a more compelling argument for recording the resulting adjustment in profit or loss rather than other comprehensive income, we support the FRC’s decision to include specific guidance in FRS 102 to improve consistency in this regard and agree that the proposed approach achieves this.

Further comments and a full response to all questions raised in the invitation to comment are contained within the full comment letter.

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.