Chartered Institute of Public Finance and Accountancy


Professional Conduct

CIPFA/LASAAC has considered responses to the consultation, and amended the exposure draft of the Code as required. The Code has now been approved by CIPFA/LASAAC and by FRAB. A report summarising the key changes made to the exposure draft can be downloaded here.

Reports Archive

The Code Update Report refers to each IAS, IFRS, IFRIC interpretation, SIC interpretation and IPSAS that will be applicable on 1 April 2010 (for details of these terms please see the Standard Setting Bodies page). The report therefore includes standards that have been issued but are not yet mandatory (for example, a revised version of IAS 1 that applies to accounting periods commencing 1 January 2009 or later), but does not refer to standards that are currently applicable, but will have been withdrawn by 1 April 2010 (for example, IAS 14, which is superseded by IFRS 8 for accounting periods commencing 1 January 2009 or later).

The Update Report includes a column headed "Current Local Authority Action Required". In some cases there will be no entry in this column, however local authorities will still need to plan how they will eventually implement those standards and ensure they can satisfy the information requirements. Where there is no entry in the column headed "Target Date for CIPFA/LASAAC to consider section of the Code", this means that the date when that section will be considered by CIPFA/LASAAC has yet to be agreed, not that the standard will not apply to local authorities.

Code Update (3): 1 May 2009

Code Update (2): 26 January 2009

This Code Update includes all decisions on the preparation of the IFRS-based Code of Practice on Local Authority Accounting made up to and including the last CIPFA/LASAAC meeting on 15 December 2008.

Code Update (1): 5 October 2008

The Update Report currently highlights a number of areas which will be developed following the "Back to Basics" consultation. A report summarising the responses is available to download, please click here [PDF file, 115K].