Reviews of liabilities arising in relation to the long-term benefits to employees and retired employees under the US GAAP and IFRS

Numerous engagements for companies in the real sector of the economy in Russia and the CIS

The KPMG actuarial team has carried out numerous audits of liabilities arising in relation to long-term benefits due to employees and retired employees under the defined benefit plan in accordance with the US GAAP and IFRS for leading (top rated according to the RBC-500 ranking) companies in various industries in the real sector of economy as part of the annual audit of financial statements. 

Description of the work

  • Analysis of the company’s regulatory documents to identify its schemes of liabilities arising in relation to long-term benefits due to employees and retired employees under the defined benefit plan 
  • Selection of actuarial assumptions
  • Valuation of the amount of the company’s liabilities arising in relation to long-term benefits due to employees and retired employees under the defined benefit plan
  • Analysis of sensitivity of long-term liabilities to varying actuarial assumptions
  • Calculation of expenses which must be recognized in the statement of profit or loss
  • Illustrative accounting disclosures in accordance with the US GAAP and IAS 19