PrintScottish Government Provides Statutory Mitigation for STACA Employee Benefits under IFRS
The Scottish Government has now issued statutory guidance mitigating the impact of International Financial Reporting Standards (IFRS) requirements in relation to employee’s “short term accumulating compensated absences” (STACA). This means that the necessary accounting adjustments in respect of such items as annual leave carried forward, time off in lieu and flexi-time balances will not impact on General Fund balances.
To see the statutory guidance click here.