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Financial report of pensions schemes Summary of key changes to the Pensions SORP
The Financial Reports of Pension Schemes (Revised May 2007) was approved by the Accounting Standards Board in May 2007 and issued by the Pensions Research Accountants Group (PRAG) on 25 June 2007. It replaces the previous version of the Statement of Recommended Practice (SORP) entitled Financial Reports of Pension Schemes (Revised November 2002).The latest version of the SORP comes into force for years commencing on of after 6 April 2007, although early adoption is recommended. This guide covers the key changes introduced by the latest edition of the SORP. It describes the previous recommendations, the new requirements introduced by the latest edition of the SORP, includes some example disclosures and some practical considerations to take into account when adopting the latest SORP. Order information If you would like to receive a free copy of this guide please contact Shona Harvie, Director in our Pensions Group by completing our online order form.
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