Consultation launched for new IFRS council accounting code
Posted by Gina Dyer in Financial reporting on Thu, 25/06/2009 - 11:01
- CIPFA/LASAAC has begun a consultation on the code of practice for local authority accounting.
- The new code is part of the public sector's move to IFRS.
- The code has been developed with the government's Financial Reporting Advisory Board.
- The draft is open for consultation until 11 September 2009.
CIPFA/LASAAC, the board responsible for the introduction of international financial reporting standards (IFRS) in local authorities has begun a consultation on the IFRS-based code of practice on local authority accounting.
The new code is part of the public sector’s move to IFRS. Where IFRS does not cover particular issues arising in the public sector, the code makes use of international public sector accounting standards to provide additional guidance.
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