Summaries of the Local Authority (Scotland) Accounts Advisory Committee (LASAAC) news and activities are provided below.
LASAAC Responds to the English Redmond Review
LASAAC has submitted a written response to the Redmond Review, which is considering the English arrangements for local government financial reporting and audit.
The response notes LASAAC’s role in CIPFA/LASAAC which is responsible for developing the Code of Practice on Local Authority Accounting; the adaptation of IFRS standards for local government; the importance of the management commentary (narrative reporting) in interpreting and explaining the financial information provided; and CIPFA/LASAAC’s strategy to improve financial reporting for users of the accounts.
To review and download formal LASAAC Guidance and other advice please see LASAAC guidance and publications.