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CIPFA/LASAAC do not intend to bring forward proposals to pause operational property valuation in local authority financial statements but recommend further deferral of the implementation of IFRS 16 until 2024/25.
ICAEW has expressed concerns about proposed time-limited changes to local authority accounting requirements intended to address audit delays.
ICAEW has responded to a government consultation on changes to the local authority capital framework, and believes wider reform is needed to local authority budgeting, accounting and auditing.
ICAEW welcomes the government’s commitment to a whole system approach in the measures announced to address the lack of timeliness in local audit, but expresses disappointment that the local government finance settlement only covers a single year.
In this podcast we take a look at the potential for regulating ‘greenwashing’, ask whether 2022 will be another year of calculating EBITDAC, and take a lens to the government’s Tax Administration and Maintenance Day.