Financial reporting requirements by province.
As part of the ongoing administration of pension plans, plan administrators must be aware of the requirements to file audited financial statements with pension regulators in the province where the pension plan is registered.
KPMG’s Pension Audit Reporting- Are you ready? provides a summary of the different financial reporting requirements by each province to assist you in planning for the upcoming pension audit reporting. These guidelines are sourced from Pension Benefits Act/Regulations of the respective provinces and is useful particularly to plan sponsors who have numerous pension plans registered in different provinces or plan sponsors who have pension plans which have not previously been subject to an audit.
We hope you find these guidelines useful. As always, we welcome the opportunity to discuss how KPMG can assist you further.
KPMG’s Pension Plan Audit Services leverages dedicated partners, managers, professional staff and pension actuaries to help ensure pension audits address the full range of technical and compliance issues across every aspect of your plan. Our team comes to the engagement deeply versed in ongoing and emerging pension-specific accounting and regulatory matters so training is never part of your audit spend.