PRAG FRS17 Working Party - PowerPoint PPT Presentation

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PRAG FRS17 Working Party

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Phased implementation periods ending 22 June 2001. Year 1 : Balance sheet ... Jean Chitty Centrica plc. Progress Report. Objective December 2002 year ends ... – PowerPoint PPT presentation

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Title: PRAG FRS17 Working Party


1
PRAG FRS17 Working Party
  • Andrew Penketh
  • Working Party Chairman

2
FRS17 Overview
  • The key points
  • Replaces SSAP24
  • Phased implementation periods ending 22 June
    2001
  • Year 1 Balance sheet type disclosures
  • Year 2 Balance sheet, PL and STRGL type
    disclosures
  • Year 3 Full implementation
  • Defined benefit schemes significant impact
  • Covers all types of retirement benefits
  • Convergence with International Accounting
    Standards

3
Working Party
  • Terms of Reference
  • Practical guide to preparation of FRS17
    information
  • Aimed at persons responsible for driving the
    process
  • Key practical and operational issues
  • Management structure, roles and responsibilities
  • Critical path
  • Data collection and processing routines
  • Strategic issues
  • Excludes professional protocols and commentary on
    financial statements

4
Working Party
  • Members
  • Andrew Penketh Horwath Clark Whitehill -
    Chairman
  • Peter Dickinson Smith Williamson -
    Secretary/Co-ordinator
  • Gaye Taylor BDO Stoy Hayward - Editor
  • Jeff Highfield
  • Mike Carson Jardine Lloyd Thompson
  • John Hotchkin Jardine Lloyd Thompson
  • Tom Kelman Gissings
  • Debra Tullett Mercer Human Resource Consulting
  • Jean Chitty Centrica plc

5
Progress Report
  • Objective December 2002 year ends
  • Meetings February March 2002
  • Terms of Reference - thumbs up from Exec
    meeting 17 April 2002
  • Working draft prepared
  • Next Meeting June 21 2002
  • Draft circulated for comments July 2002
  • Comments late July/early August
  • Issue - earliest September

6
Feed in
  • Contacts
  • Andrew Penketh andrew.penketh_at_horwath.co.uk
  • Tel 020 7842 7355
  • Peter Dickinson peter.dickinson_at_smith.williamson
    .co.uk
  • Tel 01483 407100
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