Best Value Accounting Code of Practice 2011/12 - Consultation

LAAP has recently issued a consultation regarding BVACOP 2011/12. The consultation covers the proposed amendments to the definition of ‘Total Cost’ and to the Service Expenditure Analysis for England and Wales.

Download: BVACOP Consultation
Download: Total Cost
Download: Service Expenditure Analysis for England and Wales
Download: Recommended Standard Subjective Analysis

Comments are requested by 17 September 2010 as follows:

In respect of Total Cost, to

Laura Deery (laura.deery@cipfa.org.uk)
CIPFA
3 Robert Street
London WC2N 6RL

In respect of the Service Expenditure Analysis, to

Sukhjit Gill (bvacop@cipfa.org.uk)
CIPFA
No 1 Croydon
12-16 Addiscombe Road
Croydon
CR0 0XT

Code of Practice on Local Authority Accounting in the United Kingdom 2011/12 - Invitation to Comment

The CIPFA/LASAAC Local Authority Code Board has released the 2011/12 Code Exposure Draft and Invitation to Comment for public consultation. The 2011/12 Code will apply to accounting periods starting on or after 1 April 2011.

CIPFA/LASAAC’s intention in preparing the 2011/12 Code was to minimise the number of changes.  However, some change is inevitable to ensure the Code reflects current accounting standards and legislation. The main changes being proposed are as follows:

a) Adopting new requirements on accounting for heritage assets

b) New and amended requirements arising out of legislation (Carbon Reduction Commitment Scheme, Business Rate Supplements, Community Infrastructure Levy, etc.)

c) Other changes

The Invitation to Comment summarises the proposed changes to the Code.  Where the CIPFA/LASAAC is interested in specific issues, consultation questions have been included in the ITC.  However, CIPFA/LASAAC welcomes comments on any aspect of the draft Code for 2011/12.  In order to assess comments properly CIPFA/LASAAC would prefer respondents to support comments with clear accounting reasons and, where applicable, preferred alternatives.

The Exposure Draft of the 2011/12 Code is provided as a number of files.  The section number relates to the section of the ITC in which an issue is discussed, not to the section of the Code itself, as a number of issues affect more than one.

The consultation closes on 24 September 2010.  A form to help you prepare your response is available.

Download:

Invitation to Comment

ED Section 2a - Heritage Assets
ED Section 2b - Heritage Assets Consequential Changes
ED Section 3 - Carbon Reduction Commitment
ED Section 4 - Community Infrastructure Levy
ED Section 5 - Business Rate Supplements
ED Section 6 - Remuneration Reporting
ED Section 7 - Authorised for Issue (Wales)
ED Section 8 - CFO Statement
ED Section 9a - Related Party Disclosures
ED Section 9b - Annual Improvements 2009 and Other Minor Changes
ED Section 9c - Annual Improvements May 2010
ED Section 9d - IFRS Mitigation Regs
ED Section 9e - Foreword and Related Editorial Changes

We would be grateful if authorities could use the following form to respond to the consultation as this will speed up the analysis:

CIPFA Statement on the role of the Head of Internal Audit in public service organisations

The draft was launched for consultation by CIPFA’s President at the Audit Conference on 19th May.

View the letter from Steve Freer – CIPFA Chief Executive
Download the report

CIPFA sees this work as a demonstration of its commitment to effective internal audit and believes that the Statement will help clarify the role of the HIA and raise its profile.

We are keen that the draft is widely discussed, especially with stakeholders such as Audit Committees and look forward to receiving responses. Please send these by 10 September to hia.responses@cipfa.org.uk. Please contact Clive Darracott, Technical Manager if you have any queries: clive.darracott@cipfa.org.uk 020 7543 5670.

If you would like to be kept up to date with developments in this area, please click here.

CIPFA Statement on the Role of the Chief Financial Officer in Local Government

Last summer CIPFA launched its Statement on the Role of The Chief Financial Officer in Public Services. Following the launch of the overarching statement, we have now updated our 2003 Statement on the Role of the Finance Director in Local Government. The was approach has been to follow closely the format and principles of the overarching statement but to add in as necessary additional content relating to the unique statutory position of the role in local government.

Download PDF [168KB]

Consultation: Public Financial Management and CIPFA’s Whole System Approach

CIPFA would like your comments about our new paper: Public Financial Management (PFM) and the PFM International Architecture – A Whole System Approach.  Details on the consultation and how to provide feedback may be viewed here.

Comments should be received by 5 March 2010

Application Note to Delivering Good Governance in Local Government: Framework

The Application Note advises on the application of the Statement on the Role of the Chief Financial Officer in Local Government under the CIPFA/SOLACE Framework Delivering Good Governance in Local Government. It illustrates :

• how the governance requirements to support the principles in the CFO statement build on the governance requirements that need to be reflected in an authority’s local code set out in the CIPFA/SOLACE Framework and guidance note

• how the annual governance statement can reflect compliance with the CFO statement for reporting purposes.

Please download the consultation by clicking HERE. The Application Note is currently being revised for comments received and will be issued shortly.

Treasury Management Code – comments sought to help complete the revision process

Your comments are sought to help CIPFA’s Treasury Management Panel complete the revision process of the Treasury Management Code.

The suggested revisions are shown in the PDF consultation document

Please send any comments to mandy.bretherton@cipfa.org.uk by 18 September 2009. Many thanks in advance for your consideration.