Accounting for the Cost of Compensated Personal Absences â FAR reference 31.205-6 â CAS 412. Composition and Measurement of Pension Cost â FAR reference 31.205-12 â CAS 413. Adjustment and Allocation of Pension Cost â FAR reference 31.205-12 â CAS 415. Accounting for the Cost of Deferred Compensation â FAR reference 31.205-6
A fiduciary duty is the obligation to act in the best interests of another party in financial matters. The members of a company board, for example, should act in the interests of the shareholders, whom they represent. The manager of a family trust has the obligation to work in the best interests of the family, who as clients are trusting him to carry out needed transactions and legal obligations.
A fiduciary is a person who holds a legal or ethical relationship of trust with one or more other parties (person or group of persons). Typically, a fiduciary prudently takes care of money or other asset for another person. fiduciary (abbreviation fid) is expected to be extremely loyal to the person to whom he owes the duty (the  principal ): such that there must be no conflict of duty between fiduciary and principal, and the fiduciary must not profit from his position as a fiduciary (unless the principal consents).