FTSE 350 companies support £830bn of defined benefit pension liabilities. These same companies have a combined market capitalisation of £1,200bn, so the way these liabilities are measured in company accounts is critical for assessing the financial wellbeing of UK plc.

The materiality of IAS19 pension assumptions is not lost on auditors, who continue to assess and challenge pension assumptions more than ever before. Setting appropriate evidence based IAS19 assumptions is crucial for companies going through their year-end process.