This supplementary guidance covers the impact of the triennial valuation statements received for pension funds on IAS 19 Employee Benefits Reporting. It effects the 2021/22 financial statements.
CIPFA would also note that practitioners may find it useful to note that the National Audit Office has issued Supplementary Guidance Note (SGN) 03 Considering the impact of the Local Government Pension Scheme 2022 Triennial Valuation. SGN 03 has been issued to provide additional guidance to support external auditors when considering the impact of the 31 March 2022 Triennial Valuation of the Local Government Pension Scheme (LGPS) on the balances reporting in financial statements for 2021-22 and earlier, where opinions on those statement have yet to be issued.