Local Authority Accounting: The CIPFA SORP and BVACOP Up-Date Days 2009
York 1 July
London 16 July
This conference offers local authority accounting practitioners a ‘must attend’ up-date on all the current major areas around both the Statement of Recommended Practice and the Best Value Accounting Code of Practice.  Given that this is the last year of the SORP as we know it, and with imminent the transition to IFRS and the new Code for local government, attendance is even more important that ever.

BVACOP Police SEA
BVACOP 2008 contained a single line Police SEA, but noted that work was progressing on a more detailed SEA, and that this would be published as soon as possible. The more detailed SEA has now been approved and is available to download.

NEW - LAAP 82 - Guidance on the impairment of deposits with Icelandic Banks
This bulletin provides further information regarding the impairment of deposits with Icelandic Banks to be recognised in authorities' 2008/09 accounts.  The bulletin recommends levels of impairment for each of the banks with which authorities have deposits, based on information published at the date the bulletin was issued.  Authorities may find the accompanying spreadsheet helpful in calculating the impairments.

Download LAAP Bulletin 82 [PDF 146KB]

LAAP 81 - Closure of the 2008/09 Accounts
The Local Authority Accounting Panel is issuing this bulletin to highlight areas that may cause authorities difficulties when closing the 2008/09 accounts.

Download LAAP Bulletin 81 [PDF 202KB, 25 pages]

LAAP 80 - Implementation of IFRS - Outline Project Plan
This Bulletin provides advice for authorities in planning for the implementation of IFRS. An outline project plan is provided, which authorities can use as the starting point for their own, more detailed plans.

Download LAAP Bulletin 80 [PDF 99KB, 6 pages]

LAAP 79 - Impairment of Financial Assets: Supplementary Guidance
This bulletin follows on from LAAP Bulletin 78, and provides advice on accounting and budgeting for impairment losses in the light of the draft regulations recently announced by CLG and the Welsh Assembly Government, and the draft statutory guidance announced by the Scottish Government. The bulletin will be relevant to the 2008/09 Statement of Accounts and the preparation of the 2009/10 budget. Note: this bulletin was revised on 11 May 2009.

Download LAAP Bulletin 79 [PDF 166KB, 19 pages]

LAAP 78 - Impairment of Financial Assets and Amendments to Accounting Standards (FRS 26 & FRS 29)
LAAP Bulletin 78 provides advice on accounting for the impairment of financial assets in the light of the difficulties experienced by Icelandic banks. The bulletin deals with the calculations and accounting entries required when accounting for impairments, and provides advice on the issues affecting the 2008/09 Statement of Accounts and the preparation of the 2009/10 budget. Note: this bulletin was revised on 11 May 2009.

Download LAAP Bulletin 78 [PDF 283KB, 32 pages]

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.

LAAP Chair Appointed
The new Chair of the Local Authority Accounting Panel will be Ken Finch, Corporate Director - Resources at Conwy CBC. Ken has been a member of the CIPFA Council, and sits on CIPFA's Board for the Regions and Public Finance and Management Board. Tim Day, currently acting Chair of the panel will act as the vice chair for around 6 months to allow for a smooth transition. A new vice chair will then be appointed who will have a key supporting role in dealing with what will be a demanding workload.

The 2008 SORP
The current SORP has been developed by the CIPFA/LASAAC SORP Board and has effect for financial years commencing on or after 1 April 2008. The 2008 SORP includes a host of significant changes. To purchase the SORP please click here for details.

File Your Authority's Charity Annual Returns Early
Many charities are managed by local authorities who act as corporate trustees. Nigel Davies, Deputy Head of Accountancy Policy, explains the Charity Commission's new campaign to encourage charities to file their annual reports and accounts early - and the guidance available to help beat the deadlines. Don't leave it to the last minute.

Local Authority Accounting Panel Occasional Paper
Local Government Pension Scheme Accounting For Retirement Benefits, Financial Reporting Standard 17 Calculation Guide for Local Authorities

Mercer Human Resource Consulting has produced this paper for CIPFA. Local authorities may find the Calculation Guide will assist them in their estimation processes to calculate their FRS 17 pensions assets and liabilities. However CIPFA cannot take responsibility for the accuracy of data generated by the Guide or the appropriateness to local authorities in all circumstances. Download the Paper: Word | PDF