Accounting for pension schemes is a specialist area that requires expertise and an understanding of the sector. On this page you can access a range of articles, books and online resources providing quick links to Statements of Recommended Practice, guidance and news.
Statements of Recommended Practice
The first statement (known as SORP 1) was published by the Accounting Standards Committee in 1986 and was based on the 1978 report 'Financial Reports for Pension Funds' from the Pensions Research Accountants Group. After this first statement the SORP making powers transferred to the Pensions Research Accountants Group. PRAG's role in pension scheme accounts is set out on the PRAG website under history.
Issuing body
Statements of Recommended Practice (SORPs) relating to pensions are issued by the Pensions Research Accountants Group (PRAG).
Sources for the SORP and associated guidance
The current version of the SORP was published in May 2007. Information on the SORP is available from the PRAG but there is no free, online full text version of the SORP available. Print copies are available in the library.
Useful links
Accounting for Pensions (PDF 4.77mb/44 pages)
Report, published in September 2011, by Dr Iain Clacher and Professor Peter Moizer of Leeds University Business School examines the impact of mark-to-market accounting and proposes alternatives to current accounting standards.
Archived documents
Exposure drafts and consultation papers
Financial Reports of Pension Schemes: Exposure Draft (PDF 423.70kb/103 pages)
PRAG published an exposure draft for the revised SORP in December 2006. The period for comments to be submitted closed on 21 March 2007.
A review of the form and content of pension scheme report and accounts: The regulator's response (PDF 203.01kb/46 pages)
Report published in November 2006. The publication of the responses was announced in the press release Responses to trustee report and accounts discussion paper published.
Inclusion of Actuarial Liabilities in the Financial Statements of Pension Schemes (PDF 131.94kb/12 pages)
Notes published by the SORP working party for discussion on 26 November 2002. The consultation period closed on 28 February 2003 and a summary of the results of the consultation (PDF 142.83kb/4 pages) is now available.
Other publications
Compliance with the Revised SORP 'Financial Reports of Pension Schemes': empirical evidence
ACCA Occasional Research Paper No. 32, published in 2000.
Online articles
The library provides access to a range of articles in full text from leading business, finance and management journals.
You will need to be logged-in to the website to gain full access to the range of articles available online.
Articles and books in the Library collection
To find out how you can borrow books from the Library please see our guide to book loans.
You can obtain copies of articles or extracts of books and reports by post, fax or email through our document delivery service.
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