CIPFA LASAAC Local Authority Code Board

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 cipfalasaac@cipfa.org with any queries about CIPFA/LASAAC.

Find out more by reading the CIPFA/LASAAC Terms of Reference and the sub-pages listed below:

What's going on?

Consultation on the Code of Practice 20/21

CIPFA/LASAAC has issued an invitation to comment on the Code of Practice 20/21. The consultation closes on 27 September 2019. 

CIPFA/LASAAC Vacancy on the Board

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)

Advertisement for Chair of CIPFA/LASAAC Code Board 

Lynn Pamment is stepping down as Chair of CIPFA/LASAAC. The Joint Board would like to thank Lynn for her dedication, skill and guidance during her term of office and congratulate her on taking up the position of Chair of the Financial Reporting Advisory Board. Consequently CIPFA/LASAAC is now inviting applications for the position of Chair.

Update to the 2018/19 Code: IFRS 9 Financial Instruments: Prepayment Features with Negative Compensation and other augmentations

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.

Important Statement: Implementation of IFRS 16 to be deferred until 1 April 2020

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)

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)

Statement from CIPFA/LASAAC on the Adoption of IFRS 9

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)

Important Statement from CIPFA/LASAAC on the Measurement of the Highways Network Asset

CIPFA/LASAAC has issued 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)

Articles

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