Transcription of STATEMENT OF RECOMMENDED PRACTICE
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STATEMENT OF RECOMMENDED PRACTICE . FINANCIAL REPORTS. OF. PENSION SCHEMES. (Revised May 2007) Exposure Draft SUMMARY OF CONTENTS. PREFACE .. 3. 1. COMMENTARY .. 6. INTRODUCTION .. 6. THE ANNUAL REPORT .. 6. THE TRUSTEES' REPORT .. 8. THE INVESTMENT REPORT .. 9. COMPLIANCE STATEMENT .. 9. STATEMENTS BY THE ACTUARY AND AUDITORS .. 9. THE FINANCIAL STATEMENTS .. 11. OTHER DISCLOSURES IN THE ANNUAL 12. 2. RECOMMENDED ACCOUNTING 13. SCOPE AND EFFECTIVE DATE .. 13. TERMINOLOGY .. 14. RECOMMENDED FORM AND CONTENT OF PENSION SCHEME FINANCIAL STATEMENTS .. 14. FUND ACCOUNT .. 15. NET ASSETS STATEMENT .. 17. SCHEMES WITH MULTIPLE BENEFIT 19. FORMAT OF PENSION SCHEME FINANCIAL STATEMENTS.
Statement of Recommended Practice 3 PREFACE The Statement of Recommended Practice, Financial Reports of Pension Schemes (“the SORP”) was published in 1997 and was itself a major update and reassessment of the
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What’s changed, SORP, 1. Trustees’ annual report, Trustees’ annual report, Statement of Recommended Practice, Statement of Recommended Practice Accounting, Statement of Recommended Practice . Accounting by Limited Liability Partnerships, Receipts and payments accounts for smaller charities, Receipts and payments accounts