The latest guidance
Codes of practice
A recent highlight:
Code of Practice 2023/24
This code is prepared under International Financial Reporting Standards (IFRS), which have been adopted as the basis for public sector accounting in the UK. The 2022/23 Code has been developed by CIPFA/LASAAC and has effect for financial years commencing on or after 1 April 2022.
In recent years, the potential risk associated with local authority trading companies and joint ventures has increased. Nothing is risk free, but it is important to learn lessons from others and access support.
SeRCOP is prepared in accordance with the financial reporting framework established by the Code of Practice on Local Authority Accounting in the United Kingdom (the Code). It applies to all local authority services throughout the UK from 1 April 2022 for the preparation of 2022/23 budgets and performance indicators.
If you are responsible for preparing or auditing local authority accounts to ensure that the requirements of the Code are met, this checklist will provide all the authoritative guidance you are looking for.
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