Annual Report 2008
A report on the activities of the Accounting and Auditing Standards Panel has been published on the AASP website, please click here.

Combined UK response to IPSASB Consultation on its Conceptual Framework
On 2 April 2009 a response was sent to the IPSASB setting out a combined view from 10 UK stakeholders in public sector financial reporting.

Please click here to download the response in full.

This was developed from responses to a UK Invitation to Comment.

Accounting and Auditing Standards Update available online
Briefings on standards developments prepared for the CIPFA’s Accounting and Auditing Standards Panel are now available online (more...).

Revised guide to standards and standard setting
In November 2007 CIPFA published the third edition of Accounting and Auditing Standards: A Public Services Perspective, which provides an overview of standard setting as it affects public services in the UK. This explains the process by which standards are interpreted or adapted for the different public service sectors, and the key differences from private sector practice. It also considers issues which will arise when government financial statements are prepared using ‘adapted’ International Financial Reporting Standards (IFRS), and arising from the clarity improvement project for International Standards on Auditing (ISAs). Click here for more details or to order.

ASB publishes Interpretation for Public Benefit Entities
After consultation during 2003 and 2005, the Accounting Standards Board has published its "Statement of Principles for Financial Reporting: Interpretation for Public Benefit Entities". CIPFA has followed this important project closely, and during the 2005 consultation held a round table event jointly with the ASB, to promote discussion and inform the consultation. Although the Interpretation is not a standard and does not override any other ASB guidance, it will guide the work of those responsible for the development of financial reporting in the sector. This will include bodies developing Statements of Recommended Practice (SORPs) and the ASB itself in framing new accounting standards. The Interpretations will also be of interest to international work, including the conceptual framework project that is being taken forward by the International Public Sector Accounting Standards Board.

The Interpretation for Public Benefit Entities can be downloaded from the ASB website here and more background is provided in the ASB's July issue of Inside Track.

Volunteer Feedback Survey
We are always eager to hear existing (and potential) panel members' views on how we can help support you better. The Volunteer Survey offers a formal mechanism for you to feed back your views to CIPFA.