Accounting and Auditing Standards: A Public Services Perspective (2018 Edition)



This revised edition provides an overview of standard setting as it affects public services in the UK, explaining the process by which standards are interpreted or adapted for the different public service sectors, and the key differences from private sector practice.







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2015 was the end of an era, bidding farewell to both ‘old’ UK GAAP and the Audit Commission, which were so important in earlier editions of this publication. Since then there have been further changes to financial reporting, and other regulatory and political developments. The public sector financial reporting landscape thus encompasses: 

  • a new UK GAAP, incorporating both EU-adopted IFRS and a small set of home-grown standards
  • local government audit in England, which is wholly performed by private sector firms who follow guidance provided by the National Audit Office 
  • FRC audit standard setting which is now UK only and does not cover audits in Ireland
  • the decision of the UK government to leave the European Union, the effects of which remain to be seen.

This updated guidance brings together the above changes to the UK standards environment, and numerous detailed changes to public service delivery which affect financial reporting. It also notes key developments in international standard setting which will be relevant in future.

This publication is only available online.

The digital, online version is available as both searchable HTML and a bookmarked downloadable PDF of the publication that can be shared throughout your organisation. Customers will need to register and login to CIPFA’s website to access the publication. Details of licensing arrangements for other categories of purchaser, which includes those organisations operating shared service arrangements, are available from CIPFA’s Publications Department.

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