The delegate slide packs and supporting materials relating to the CIPFA FAN 2019/20 Closedown and Financial Reporting Workshops are available below for subscribers to download.
There are separate delegate packs for English, Welsh and Scottish authorities plus English police and fire bodies. Also included below are suggested answers to the exercises we covered in the workshops, a summary of key auditor considerations when relying on the work of the local authority valuer, and a link to broader public sector supporting materials in respect of IFRS 16 Leases.
Some of the topics we included in the workshops have been subject to additional guidance or clarification:
IFRS 16 – The standard has now been deferred to 2021/22 in line with the revised timeline for central government – updates to the Code’s consultation proposals for 2021/22 are also included in the Year-end Bulletin
NAO Code of Audit Practice – The Code has since been published (accessed via the same link on the slide)
Timelines for 2019/20 accounts publication – amendments to the Accounts and Audit Regulations (England) have pushed back the draft and audited accounts publication dates to 31 August and 30 November 2020 respectively
Trading Note – whilst not highlighted as a change in the Foreword to the 2019/20 Code, the trading accounts disclosure note (paragraph 3.4.4.1 – 2) is now only a requirement in Scotland (further details in Code Guidance Notes Module 3 paragraph I61)
We hope you find these materials and update helpful.