Sensient Technologies UK Pension Plan
Most corporate sponsors are now required to publish details of their pension liabilities in their accounts. These liabilities have become more significant – and also more volatile. This has led to auditors asking more detailed questions about these liabilities and the assumptions being used.
Our approach gives company directors the chance to review assumptions before the relevant date and engage their auditors at an early stage, to avoid unnecessary re-work. We can even meet directly with the auditors to explain our rationale and the approaches adopted.
We know that further information is often required. That’s why we’ve designed our delivery systems to provide full sensitivity analyses and projected positions going forward.
Whichever reporting standard is needed, we have the expertise and experience to provide the required work within the set time scales.
Increasingly, we are being asked about what steps can be taken to reduce or remove volatility from accounting disclosures. Our risk management programme can easily be applied to the accounting liabilities, as many of the risks are broadly alike. We have found that reducing risk in terms of funding and cash flow requirements will usually have a similar beneficial impact on the accounting disclosures.