Large multinational companies typically operate employee benefit plans according to local custom and practice for their workforce around the world. PwC has carried out research in to how companies collect and process their pension information around the world for financial reporting purposes under IFRS or US GAAP. Our conclusions are that the processes used to collect data and the technology used to consolidate the information are in urgent need of modernisation and actually act as a blocker to companies accessing vital risk management information.
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