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Financial Reporting Alerts
Issued as needed to highlight up-to-the-minute accounting, regulatory, or other developments that may require immediate action or that may affect financial reporting and disclosure.
Most Recent Financial Reporting Alert
Financial reporting considerations related to high court of justice ruling on equalization of U.K. pension benefits
Financial Reporting Alert 18-13
On October 26, 2018, the High Court of Justice in the United Kingdom (the “High Court”) issued a ruling (the “Court Ruling”) requiring Lloyds Bank plc to equalize benefits payable to men and women under its U.K. defined benefit pension plans by amending those plans to increase the pension benefits payable to participants who accrued such benefits during the period from 1990 to 1997. The inequalities arose from statutory differences in the retirement ages and rates of accrual of benefits for men and women related to Guaranteed Minimum Pension benefits that are included in U.K. defined benefit pension plans. In its ruling, the High Court also provided details on acceptable alternative methods of amending plans to equalize the pension benefits.
Recent Financial Reporting Alerts
- 18-12, Financial reporting considerations related to pension and other postretirement benefits
- 18-11, Clarifying the interim stockholders’ equity and effective date requirements in the SEC’s final rule on disclosure simplification
- 18-10, Adoption of ASU 2018-07 in an interim period
- 18-9, Classification of cryptocurrency holdings
- 18-8, Recent developments related to the classification of Argentina as a highly inflationary economy under U.S. GAAP
- 18-7, Emerging companies — Common-stock repurchase transactions
- 18-6, Financial statement implications of the new partnership audit rules
- 18-5, Application of ASU 2016-15 to the sale of trade receivables to multi-seller commercial paper conduit structures (Updated August 3, 2018)
- 18-4, FASB issues ASU on reclassifying certain tax effects from AOCI (superseded by Financial Reporting Alert 18-1)
- 18-3, SAB 118 implementation issues (superseded by Financial Reporting Alert 18-1)
- 18-2, FASB makes decisions about the application of income tax guidance to certain tax reform provisions
- 18-1, Frequently asked questions about tax reform (updated August 30, 2018)
- 17-7, Financial reporting considerations related to pension and other postretirement benefits
- 17-6, Financial reporting implications of disasters (Updated October 4, 2018)