Against a background of grant reduction and austerity, the current focus in local government continues to be on the ability to set a balanced budget, together with an ongoing debate on commercialism. However, there are other debates which may have fallen by the wayside which also deserve our attention. One forward-looking challenge is to consider what the role is for financial statements, and whether now is the right time to critically appraise local authority financial reports.
This article first appeared in Local Government Chronicle.
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