FIRIS has established experience in employees benefits in accordance to IAS19 as well as Vietnamese regulations. We can help you satistfy financial reporting requirements under standards by performing a periodic actuarial valuation of your employee benefits, including end-of-service benefits, long-service awards and other existing defi  ned benefit plans. 

Defined benefit plans are classified as post-employment plans where the obligation of the entity is to provide the agreed benefits to current and former employees, usually based on some benefit formulas. Under benefit plans actuarial risk and investment risk fall, in substance, on the entity. If actuarial and investment experience is worse than expected, the entity’s obligation may be increased.

Actuarial valuation for defined benefit plans involves the following steps:

  • Determine how much benefit is attributable to the current and prior periods.
  • Make actuarial assumptions about demographic variables, such as mortality, turnover, ill health and early retirement and financial variables, such as discount rate, future salary and benefit levels that will affect the cost of the benefits.
  • Use the Projected Unit Credit Method to calculate the present value of the defined benefit obligation for the benefit attributable to prior periods, and the current service cost for the benefit attributable to the current period.
  • Determine the total amount of actuarial gains and losses and the amount of those actuarial gains and losses to be recognized.
  • Where a plan has been introduced or changed, determine the resulting past service cost and the amount to be recognized.
  • Where a plan has been curtailed or settled, determine the resulting gain or loss.

FIRIS will help your company in


  • Collect and validate data
  • Reconcile membership data between two actuarial valuations
  • Provide employee data summaries


  • Analyse historical turnover and salary increase experience
  • Engage HR to gain better insight into HR strategies and future workforce changes
  • Recommend assumptions based on historical data analysis, discussions with the client and our experience in the region


  • Perform actuarial valuation and generate results
  • Discuss results with HR and Finance
  • Provide training by hosting knowledge transfer sessions
  • Discuss results with the auditors


  • Provide complete disclosure set
  • Support the transition from current to reporting standard
  • Submit a comprehensive actuarial valuation report that satisfies all actuarial and accounting reporting standards, signed by qualified actuaries
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Interested in how we can help you?