1 / 6

PRAG FRS17 Working Party

PRAG FRS17 Working Party. Andrew Penketh Working Party Chairman. FRS17 Overview. The key points Replaces SSAP24 Phased implementation – periods ending 22 June 2001 Year 1 : Balance sheet type disclosures Year 2 : Balance sheet, P&L and STRGL type disclosures Year 3 – Full implementation

baina
Download Presentation

PRAG FRS17 Working Party

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript


  1. PRAG FRS17 Working Party Andrew Penketh Working Party Chairman

  2. FRS17 Overview • The key points • Replaces SSAP24 • Phased implementation – periods ending 22 June 2001 • Year 1 : Balance sheet type disclosures • Year 2 : Balance sheet, P&L and STRGL type disclosures • Year 3 – Full implementation • Defined benefit schemes – significant impact • Covers all types of retirement benefits • Convergence with International Accounting Standards

  3. Working Party • Terms of Reference • Practical guide to preparation of FRS17 information • Aimed at persons responsible for driving the process • Key practical and operational issues • Management structure, roles and responsibilities • Critical path • Data collection and processing routines • Strategic issues • Excludes professional protocols and commentary on financial statements

  4. Working Party • Members • Andrew Penketh – Horwath Clark Whitehill - Chairman • Peter Dickinson – Smith & Williamson - Secretary/Co-ordinator • Gaye Taylor – BDO Stoy Hayward - Editor • Jeff Highfield • Mike Carson – Jardine Lloyd Thompson • John Hotchkin – Jardine Lloyd Thompson • Tom Kelman – Gissings • Debra Tullett – Mercer Human Resource Consulting • Jean Chitty – Centrica plc

  5. Progress Report • Objective – December 2002 year ends • Meetings – February & March 2002 • Terms of Reference - ‘thumbs up’ from Exec meeting 17 April 2002 • Working draft prepared • Next Meeting – June 21 2002 • Draft circulated for comments – July 2002 • Comments late July/early August • Issue - earliest September

  6. Feed in…… • Contacts • Andrew Penketh – andrew.penketh@horwath.co.uk • Tel 020 7842 7355 • Peter Dickinson – peter.dickinson@smith.williamson.co.uk • Tel 01483 407100

More Related