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Get IAS 19 done!

IAS 19 or ASC 715 - fast results, prepared by experienced actuarial professionals.

What is IAS 19?

IAS 19 is the International Accounting Standard governing employee benefits accounting requirements. Under IAS 19, long-term employee benefits, such as end of service gratuity benefits, require an actuarial valuation.

What We Do

For most companies IAS 19 or ASC 715 serves one purpose only – International Financial Reporting Standards (“IFRS”) or US GAAP compliance. Your auditor and perhaps the authorities require implementation – even if the year-to year impact on your financials is expected to be minimal. On this site you can learn more, and easily approach us to assist you.

We offer an IAS 19 or ASC 715 compliant valuation report, complete with necessary disclosures and entries – with minimum effort or demands on your time. For companies employing 100 staff, 5,000 staff or 100,000+ staff, we deliver results to you quickly, accurately and efficiently. M&A impact, Bulk Transfers, Mass Retrenchments – not a problem. We guide you as to exactly how to use our results.

How Does Lux's Process Work?

  1. Collect, analyse, reconcile and validate employee payroll data,
  2. Engage with the Finance/Management team to set the valuation basis,
  3. Calculate the actuarial cost of
    liabilities,
  4. Conclude and make recommendations
    to Senior Management,
  5. Present an extensive actuarial report within a few working days.

What Does The Report Show?

Our actuarial report, which is fully compliant with the Institute and Faculty of Actuaries’ professional standards (IFoA – London, UK) sets out the following:

Data: summary employee statistics, which gives an indication of scheme maturity, and how future costs might develop
Assumptions: we set out the impact and materiality or significance of each of our assumptions (demographic and financial)
Methodology: we detail our approach in reaching the results, in accordance with IAS 19
Results: we set out the figures you should use in the year-end financials, in an
easy-to-understand format, directly transferable to your financial statements
Future year expected cost: for budgeting and planning purposes
Projections: we roll forward the results and provide a projection of estimated benefits versus expected future cash flows over the remaining lifespan of the benefits scheme, for use in your longer-term budgeting process
Cost and liability figures: broken down to individual employee level, in Excel format
10 Employees Free
  • Data: summary employee statistics
Item 1 of 7

10 Employees Free

Want to know more?

For those who would like insight as to the extent of work required and to understand more about what the actuarial calculations entail, please explore our Knowledge Base.

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