- the fact that the scheme is a defined benefit scheme but that the reporting entity is unable to identify its share of the scheme assets and liabilities; and
- any available information about the existence of a surplus or deficit in the scheme and the implications of that surplus or deficit for the reporting entity.
- the quantity and quality of other available relevant audit evidence.
We've been being asked a lot recently to confirm in what circumstances charities and not for profit organisations with final salary pension funds need to provide full FRS17 disclosures in their company accounts. The first requirement is to establish if the company is a "stand alone" scheme or is part of a "multi-employer" scheme. If the body has its own pension fund in which it is the only participating employer and which has separately identifiable assets and liabilities then there seems little doubt that full disclosure will now be required. Where the body is a member of a "multi-employer" scheme, namely that it is one of a number of employers who participate in the arrangement, then the position is considered in details in Section 38 of Practice Note 22 - ' The Auditors' consideration of FRS17 'Retirement Benefits' - Defined Benefits Schemes which states:- Where more than one employer participates in a defined benefit scheme, it is known as a 'multi-employer scheme.' In some cases the scheme assets are not clearly allocated to specific employers and it may be difficult to identify the share of the underlying assets and liabilities attributable to each participant on a consistent and reasonable basis. In such circumstances, FRS17 requires the contributions to be accounted for as if the scheme were a defined contribution scheme, provided that there is disclosure in the financial statements of: