In response to the Public Accounts Committee's recent report on local authority investment in commercial property, Don Peebles, Head of CIPFA Policy and Technical UK said:
“CIPFA welcomes the Public Accounts Committee's recommendations, one of which is a review of the prudential framework. The Prudential Code is central to the operation of the framework and CIPFA is committed to reviewing and modernising the Code to address the concerns raised in the recent report. As the report indicates, CIPFA considers it to be essential that adherence to the Code becomes a statutory requirement and we will continue to explore that option with government.”
Notes to editor:
Access the full report on local authority investment in commercial property.
For further information please contact the CIPFA press office on T: 020 7543 5787 or E: firstname.lastname@example.org
CIPFA, the Chartered Institute of Public Finance and Accountancy, is the professional body for people in public finance. CIPFA shows the way in public finance globally, standing up for sound public financial management and good governance around the world as the leading commentator on managing and accounting for public money.
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