Northern Trust has developed a new Statement of Recommended Practice (SORP) reporting solution, which is intended to assist institutional clients with meeting the new UK SORP reporting requirements.
This product is primarily aimed at helping UK and Irish pension schemes to follow the new SORP guidelines, which are effective for accounting periods starting on or after January 1 2015. The changes
will mean schemes must disclose certain investment risks and fair-values, including amendments to the way annuities are valued.
The reporting package offered by Northern Trust will supply clients with the necessary information to satisfy fair valuation and risk disclosures. It shall also include new customisable reports, which have been designed to reduce the burden associated with obtaining information, and to provide clients with reports offering market and counter-party exposure evaluation.
Northern Trust Launches New SORP Reporting Solution
Northern Trust has developed a new Statement of Recommended Practice (SORP) reporting solution, which is intended to assist institutional clients with meeting the new UK SORP reporting requirements.