Change to UK defined benefit accounting standards

Following lobbying from sections of the analyst community, the UK's Accounting Standards Board (ASB) has issued proposals for comment to bring FRS17 accounting regulations for defined benefit schemes (DB) into line with international standards.

The ASB has put forward two tiers of proposals that are intended to counter claims that the present system does not fully allow for risks facing DB schemes. The first strand of the ASB's proposals will be to replace FRS17 with IAS19 and converge the le