Actuarial services
Actuarial valuation of pension liabilities and long-term employee benefits
Since 2008, FBK has provided actuarial valuation services for pension liabilities and long-term employee benefits to real-sector companies in compliance with IFRS (IAS) 19 Employee Benefits.
FBK’s actuarial valuation of pension liabilities and long-term employee benefits encompasses all procedures required to determine liability valuations under IFRS (IAS) 19 Employee Benefits as at the valuation date and to prepare necessary disclosures for IFRS financial statements:
- identification and materiality assessment of pension and social liabilities, classifying current employee benefit plans, and assessing impact of plan amendments, including those caused by legislative changes;
- reviewing input data requests for actuarial valuation purposes, verifying completeness and reliability of provided data;
- determining key financial and demographic actuarial assumptions;
- valuation of pension liabilities and long-term benefits using the projected unit credit method;
- fair value calculation of employee benefit assets, as well as confirmation of the existence of pension assets or reimbursement rights;
- assessing the amount of periodic costs for pension plans and other long-term employee benefits;
- analysis of actuarial gains and losses, their composition, and root causes;
- analysis of effects of benefit plan modifications and workforce changes during the reporting year resulting in past service costs/curtailments;
- drafting IFRS financial statement notes and adjustments;
- reconciliation of valuation results and support during auditor review of actuarial reports.
Upon completion of the actuarial valuation for IFRS purposes, the client receives:
- IFRS financial statement disclosures;
- professionally compliant actuarial valuation report;
- coordination and justification of the valuation’s results with auditors.
Our advantages
Solid Reputation
FBK consistently takes top positions in RAEX largest industry ranking and other professional rankings.
Expert Team
Our specialists have extensive experience and are members of the Self-regulatory organization for actuaries "Association of professional actuaries".
Confidentiality
FBK ensures stringent information security protocols.
Key Persons
