Ethics and corporate governance and Minimum Funding Requirement: Difference between pages

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==Ethics==
''Pensions''.
(MFR).


Ethics is a core technical competency for treasurers identified by the ACT's Competency Framework.
The former requirement in the UK under the Pensions Act 1995 that for a Defined Benefit pension scheme the liabilities should not exceed the assets under a prescribed set of assumptions.


Ethical behaviour is a mind-set and underpins all business activity. Treasury professionals need to appreciate why ethics matter, to act ethically at all times and to lead by example.
MFR was superseded by the Statutory Funding Objective and Scheme Specific Funding.


==Compliance and audit==


'Compliance and audit' is a core technical competency for treasurers identified by the ACT's Competency Framework.
== See also ==
* [[Scheme Specific Funding]]
* [[Statutory funding objective]]


Treasury’s activities need to be clearly defined, executed and monitored and this includes the independent review provided by regular audits. Policies and procedures need to be integrated into the organisation’s risk management approach. Reporting must be provided for all stakeholders (both internal and external).
[[Category:Accounting,_tax_and_regulation]]
 
 
==See also==
* [[ACT Competency Framework]]
* [[Technical skills]]
 
[[Category:Ethics_and_corporate_governance]]

Latest revision as of 09:08, 4 March 2022

Pensions.

(MFR).

The former requirement in the UK under the Pensions Act 1995 that for a Defined Benefit pension scheme the liabilities should not exceed the assets under a prescribed set of assumptions.

MFR was superseded by the Statutory Funding Objective and Scheme Specific Funding.


See also

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