SORP 2015

The Financial Reporting Council (FRC)have issued FRED 67 for consultation. The consultation ran until June 2017 with a final standard expected in December 2017. Following the triennial review we are expecting a review of the Pensions SORP to dove tail with this.

Procedures and practical guide (PRAG) have stated “When FRS 102 was issued in March 2013 the FRC indicated it would be reviewed every three years. The first triennial review is now in progress. The FRC is keen to hear stakeholders’ views on possible improvements to FRS 102 and there will be a number of opportunities for stakeholders to comment.”

It is expected that a revised SORP will be issued in summer 2018 with the next revision scheduled for 2020/21.

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