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Benefit Costs for Multinationals
Significant changes in accounting requirements for multinational companies in relation to employee benefits can be expected in the near future. A new international standard is being developed by the International Accounting Standards Committee (IASC) which, if it follows the approach proposed in exposure draft E54, will have wide implications for multinationals everywhere. This development results from changes being driven by the International Organisation of Securities Commissions (IOSCO) prompted in part by European-based multinationals looking for a satisfactory international standard in a number of key areas, including employee benefit costs.
New Private Pension Law in France
On 20 February 1997, the French government passed the long-awaited bill concerning private pensions, which will establish a voluntary 'third tier' pension provision for employees in the private sector. The law, however, will not take effect until regulations are published, which are expected this summer.
Newsbriefs
New from Watson Wyatt:
Watson Wyatt launches international benefits tracking software
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