This board is responsible for preparing, maintaining, developing and issuing the Code of Practice on Local Authority Accounting for the United Kingdom.
From 2010/11 onwards, the Code has been based on International Financial Reporting Standards.
The board is a partnership between CIPFA (England, Northern Ireland and Wales) and the Local Authority (Scotland) Accounts Advisory Committee (LASAAC).
Contact firstname.lastname@example.org with any queries about CIPFA/LASAAC.
Find out more by reading the CIPFA/LASAAC Terms of Reference and the sub-pages listed below:
CIPFA/LASAAC Provides Survey Feedback and Issues Discussion Papers
CIPFA/LASAAC has provided an analysis of responses to the recent stakeholder survey, and has also issued two discussion papers to support further stakeholder engagement. Please see the IFRS-based Code page for more details.
CIPFA/LASAAC has issued an invitation to comment on the Code of Practice 20/21. The consultation closes on 27 September 2019.
CIPFA/LASAAC has a vacancy on the Board for an English local authority accounts member. For more detail on the vacancy download the CIPFA/LASAAC Vacancy Recruitment June 2019 (PDF, 89KB).
CIPFA/LASAAC has issued an update to the 2018/19 Code of Practice to provide transitional provisions for changes in accounting practices or treatment for modifications of exchanges of financial liabilities that do not result in derecognition which arise as a result of clarifications in IFRS 9 Financial Instruments: Prepayment Features with Negative Compensation (IASB October 2017) and minor augmentations to the provisions relating to exchanges between an existing borrower and lender.
The Update to the 2018/19 Code must be read in conjunction with the 2018/19 Code published by CIPFA in April 2018. The Update includes tracked changes to appropriate extracts of the 2018/19 Code with both new and amended paragraphs required to form the revised 2018/19 Code. The Update has been made available to purchasers of the 2018/19 Code.
CIPFA/LASAAC has issued the following statement following decisions taken at the meeting of the government's Financial Reporting Advisory Board (FRAB) on 22 November 2018.
Statement from the CIPFA/LASAAC Local Authority Accounting Code Board:Implementation of IFRS 16 Leases (PDF, 225KB).
See also the Code development feedback statement which indicates key IFRS 16 Leases implementation decisions by CIPFA/LASAAC arising from consultation responses and stakeholder feedback.
CIPFA/LASAAC clarification statement on contracts with LOBO clauses
CIPFA/LASAAC has issued the following statement on 15 May 2018:
Clarification statement on contracts with LOBO clauses (PDF, 402KB).
CIPFA/LASAAC has issued the following statement on 13 November 2017:
CIPFA/LASAAC Statement on the Adoption of IFRS 9 Financial Instruments (PDF, 66.8KB).
CIPFA/LASAAC hasissued the following important statement on 10 March 2017:
Statement from CIPFA/LASAAC Local Authority Code Board on the Measurement of the Highways Network Asset (PDF, 212KB).
Sarah Sheen, Technical Manager-Local Government Reporting at CIPFA, published To have and to leasehold:accounting for leases in Public Finance on 5 September 2018.
Alison Scott, former Head of Standards and Financial Reporting at CIPFA, published How to Make a Code of Practice in Public Finance on 28 March 2017.
The Chair of CIPFA/LASAAC, Lynn Pamment, and the Secretary, Sarah Sheen, published Council Accounting: A Shift from Rules to Principles in Public Finance.
Alison Scott, former Head of Standards and Financial Reporting at CIPFA, published Accounts Should Be of Interest to Local Taxpayers in the 4 June 2015 issue of Municipal Journal.