Consultation on the 2024/25 Code of Practice on Local Authority Financial Reporting in the United Kingdom


CIPFA LASAAC has issued its annual consultation on the 2024/25 Code of Practice on Local Authority Accounting in the United Kingdom (the Code). The 2024/25 Code will apply to accounting periods starting on or after 1 April 2024.

Issues considered in the consultation

The changes and feedback requested in the invitation to comment (ITC) for the 2024/25 Code relate to the following.

  • Mandatory implementation of IFRS 16
  • Accounting for infrastructure assets
  • Changes to accounting standards, and issues arising from implementing new standards
  • IFRS 17 Insurance Contracts.
  • CIPFA LASAAC's strategic plan, including:
    • CIPFA’s Better Reporting Group
    • Overview of Performance and Summary Financial Information
    • Review of the structure and format of the Code
    • Sustainability reporting.
  • Other emerging issues, including:
    • Local audit and accounting issues
    • Statutory specifications for local authority financial reporting
    • Recognition of the Net Defined Benefit Pensions Asset
    • Changes to IPSAS standards which could impact on the Code.

The invitation to comment and exposure drafts of the 2024/25 Code

The exposure draft of the 2024/25 Code is provided as several files. They are listed in numerical order and follow the order of the section in the ITC in which an issue is discussed, not the section of the Code itself.

Invitation to comment

Invitation to Comment on the 2024/25 Code of Practice on Local Authority Accounting in the United Kingdom (PDF).

Exposure drafts (EDs)

The invitation to comment summarises the proposed changes to the Code. Where 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 2024/25 Code. In order to assess comments properly, respondents are asked to support comments with clear accounting and financial reporting reasons and, where applicable, preferred alternatives.

Responses are requested by 17 October 2023, 23:00.

Responses to the consultation can be by letter or email to

Webchat is available Monday to Friday, 09:00 - 17:00 (excluding UK bank holidays).