IAS19R to cause £5bn hit on FTSE350 profits

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Companies with defined benefit (DB) schemes restating 2012 accounting figures to reflect IAS19R will show a reduction in pre-tax profits by around £5bn, Towers Watson warns.

The consultant said when FTSE350 firms produce 2013 accounts with the amended accounting standard, 2012 profit levels will have to be restated to allow for comparison. This will cause pre-tax profi...

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