Source · Select Committees · Housing, Communities and Local Government Committee
First Report - Financial Reporting and Audit in Local Authorities
Housing, Communities and Local Government Committee
HC 59
Published 24 November 2023
Recommendations
24
Accepted
Para 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 …
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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.
Ministry of Housing, Communities and Local Government
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30
Accepted
Para 131
Assess potential benefits of decoupling value for money from financial audit work
Recommendation
The Department should work with the organisation that prepares the Audit Code (currently the National Audit Office, eventually the system leader) to assess the potential benefits (for example, to timescales and resourcing) of decoupling value for money work from financial …
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Government Response Summary
The government agrees with the recommendation, committing to consult on decoupling value for money work from financial audit work, continue collaboration with the NAO and FRC, and report the assessment findings to the Committee before the end of this Parliament.
Ministry of Housing, Communities and Local Government
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