Accounting Coordination & Consolidation
Our global accounting service will ease your year-end process with a combination of proactive consulting and accessible online tools.
Our team of experts will coordinate and consolidate the accounting disclosures for all of your global defined benefit plans. We are happy to work with the existing local actuary of each plan, leaving existing actuarial relationships intact. We offer a central contact to ensure work is delivered on time and in line with your agreed global accounting policy. With a physical presence in all the major regions offering defined benefits, few organisations have our depth of experience.
We use our web-based global accounting consolidation tool, Milliman AccountTM, to ensure that work is carried out efficiently, driving costs savings and transparency so there is a clear trail to satisfy your auditors. With multiple levels of access, all stakeholders can be given access to the information they need online. Our flexible technology allows efficient data entry and output tailored to each client’s needs and reporting requirements.
After the year-end, our online portal, Illuminate — Global View, allows you to track the overall funding level of your defined benefit plans throughout the year.
Our global accounting services include:
- Advice on the choice of actuarial assumptions and sensitivity to changes in assumptions
- Preparing and consolidating the disclosure figures for your retirement and other long term benefit plans under international and country-specific accounting standards
- Advice on the disclosure notes for your corporate accounts
- Tracking and projecting the funding position of your defined benefit plans for accounting and business planning purposes
- Assessing the impact of acquisitions and divestitures
- Independent review of your employee benefit accounting disclosures
Illuminate - Global View
As a pension, finance or risk professional with responsibility for defined benefit arrangements across the world, keeping track of the overall funding level can be a chore.
Forming part of our accounting consolidation service, Illuminate — Global View provides a single tracking portal for all your defined benefit plans, making it quick and easy to check positions by region or by plan.
Illuminate — Global View provides:
- Daily tracking update
- Global overview in a reporting currency of your choice
- Reconciliation of the movement in the funding position
- Drill down by region, division, country or plan in the local or the reporting currency
- Bespoke reporting views
- Online access from any device
