Achieving a smooth audit remains the top year-end accounting goal for over 70 sponsors, with 65 per cent prioritising this objective, according to an LCP webinar poll.
Regarding reporting the surplus, 38 per cent prefer reporting, 22 per cent are indifferent, and 13 per cent choose not to disclose. Only 13 per cent strongly prefer disclosing a surplus, emphasising a larger one.
LCP’s “Seize the Moment” report suggests schemes reassess strategies for new opportunities, offering four key takeaways: understand objectives, consider mortality implications, get a current accounting estimate, and engage with auditors proactively.
LCP head of corporate consulting Gordon Watchorn says: “Our poll shows that when it comes to year-end accounting, making sure there are no surprises and everything goes smoothly with the auditor is still a key concern for sponsors.
“More broadly, unprecedented funding levels mean that there are now a whole variety of options for sponsors. It’s time to embrace innovation, keep things under review and seize opportunities when they arise.”
