ASB reaffirms risk-free rate proposal despite conflict with IAS19

The UK’s Accounting Standards Board (ASB) has rejected industry criticism and a potential conflict with international accounting standards by reaffirming its proposal to discount pension liabilities using an upgraded risk-free rate.

The ASB made the original recommendation in its January 2008 report, The Financial Reporting of Pensions,  and outlined the industry and regulatory responses in its follow-up feedback and redeliberations report, published at the end of November.

The ASB had expressed

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