Source · Select Committees · Housing, Communities and Local Government Committee
Recommendation 24
24
Accepted
Paragraph: 111
The Department should coordinate with the Chartered Institute of Public Finance and Accountancy and the...
Recommendation
The Department should coordinate with the Chartered Institute of Public Finance and Accountancy and the CIPFA/LASAAC Local Authority Code Board to ensure that the Accounting Code does not interpret existing legislation as placing requirements on local authority accounts disclosures that are neither mandated nor intended by the existing legislation.
Government Response Summary
The government agrees on the importance of the Accounting Code aligning with legislation and will work with CIPFA to review legislative disclosure requirements and their necessity. Any changes will be implemented through CIPFA LASAAC's annual review process.
Paragraph Reference:
111
Government Response
Accepted
HM Government
Accepted
We agree that it is important the Accounting Code aligns with legislation and the Department will work with CIPFA to review the legislative disclosure requirements alongside the Code. As part of this work, we will also consider if the disclosure requirements are necessary and appropriate, as agreed to above. The CIPFA LASAAC Local Authority Code Board conduct a regular annual review process to consider items for development for the Accounting Code and any changes to the existing Code should be implemented as part of this development process and consultation.