
Public pension accounts move towards market-consistency
News
The future international public sector accounting standard (IPSAS) relating to employee benefits is likely to stipulate entities use market yields of high quality corporate bonds to determine the risk-free discount rate to discount pension benefits. The IPSAS board will discuss the matter at its meeting in Montreal next week and is likely to adopt such a ruling then, according to Mike Hathorn, London-based chairman of the IPSAS board.
With cash flow accounting or actuarial discounting of pension
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