Chartered Institute of Public Finance and Accountancy

CIPFA / LASAAC

The CIPFA/LASAAC Local Authority Code Board is established as a standing committee of CIPFA and LASAAC for the purpose of preparing, maintaining, developing and issuing the Code of Practice on Local Authority Accounting for the United Kingdom.  The 2010/11 Code is the first to be based on International Financial Reporting Standards, and has been prepared under the oversight of the Financial Reporting Advisory Board.

Previous editions of the Code were the Statement of Recommended Practice (SORP) for the sector. The last SORP covers the 2009/10 financial year.

As part of the work of preparing the SORP, the Board shared the Accounting Standards Board’s aim of advancing and maintaining standards of financial reporting in the public interest and was recognised by the ASB for the purpose of issuing SORPs. As a condition of recognition, the CIPFA-LASAAC Board had agreed to follow the ASB’s Code of Practice on the Development of SORPs.

For details of the ASB and of CIPFA members in its activities please click here

PUBAC204HCode of Practice on Local Authority Accounting in the United Kingdom 2011/12 (2011)

The 2011/12 Code is the first annual update of the Code since the International Financial Reporting Standards were adopted as the basis for public sector accounting in the UK. This Code has been developed by the CIPFA/LASAAC Local Authority Code Board and has effect for financial years commencing on or after 1 April 2011.

The Code specifies the principles and practices of accounting required to prepare a Statement of Accounts which gives a true and fair view of the financial position and transactions of a local authority.

For further details and to order your copies please visit the CIPFA Shop.

For further information about the Board, please contact Julian Smith: julian.smith@cipfa.org or 0207 543 5795