Pension plans of municipalities and other municipal organizations
The Order’s Working group on pension plans published an information document in the December 11, 2013 issue of the CPA Newsletter entitled "Expected changes to assumptions about mortality", which included the changes that pose significant challenges for preparers and auditors of pension plan and plan sponsor financial statements. In many case, the changes could result in increasing the obligation in their next financial statements.
Under the government’s action plan “Vers des régimes de retraite équitables et durables” announced in December 2013, affected municipalities and other municipal organizations will have to ensure that the financial information presented in their 2013 financial statements reflects reality as faithfully as possible.
The Working group on municipal governments therefore invites preparers and auditors of financial statements of municipalities or other municipal organizations to read the information document issued in December 2013 by the Working group on pension plans.