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CIPFA Consultations
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Best Value Accounting Code of Practice 2008 Consultations on: The England and Wales Service Expenditure Analysis A consultation paper on amendments to the Service Expenditure Analysis part of the England and Wales Best Value Accounting Code of Practice (BVACOP) 2007 is now available. Proposals to alter mandatory divisions of service are limited to the following SEAs:
Proposals to alter the names of service have been made in respect of the following SEAs:
Remaining SEAs are largely unchanged with alterations for the most part consisting of amendments to the subdivisions and guidance notes. Responses to this consultation paper should be sent preferably by email (bvacop@cipfa.org) to: DOWNLOAD Consultation Paper (12 pages) Word [116KB] | PDF [151KB] Applicable Dates for BVACOP This consultation proposes changes to the applicable dates for future editions of BVACOP so that, following a transition period, BVACOP will be aligned with a single financial year. Separate consultations will be held on proposals for substantive changes to BVACOP. Responses to this consultation paper should be sent preferably by email (paul.mason@cipfa.org) to: DOWNLOAD Dates Consultation Paper (3 pages) PDF [60KB] |
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Consultations on Financial and Stakeholder Reporting by Local Authorities This is a time of great change for local authority accounting and reporting. CIPFA is therefore seeking views on the future direction of financial and stakeholder reporting by local authorities in two separate but linked consultations. 'Back to Basics' asks what format the Statements of Accounts should take following the introduction of IFRS in 2010/11, and how they can be made more relevant to stakeholders. 'Telling the Whole Story' is aimed at start a debate on the future of wider stakeholder reporting, focusing on local people’s needs and providing the information and tools needed to hold local authorities to account. Responses are invited by 31 July 2008. Please send these, preferably by email to: Back to Basics: basics@cipfa.org or Paul Mason, Policy and Technical Directorate, CIPFA, 3 Robert Street, London WC2N 6RL Telling the Whole Story: alison.scott@cipfa.org or Alison Scott, Policy and Technical Directorate, CIPFA, 3 Robert Street, London WC2N 6RL DOWNLOAD: Telling the Whole Story Consultation Paper (40 pages) - PDF [212KB] |
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Consultation on the Future Governance Framework for the Code of Practice on Local Authority Accounting in the United Kingdom The CIPFA/LASAAC Local Authority SORP Board, which develops the Code of Practice on Local Authority Accounting in the United Kingdom (the Code), recently announced its decision to implement International Financial Reporting Standards in the Code from 2010/11. Following this decision, CIPFA/LASAAC is now considering whether the Code should continue to be prepared under the aegis of the UK Accounting Standards Board (ASB). Any change would apply from the 2010/11 Code onwards. The alternative to an ASB-linked governance framework would be a framework linked with the Financial Reporting Advisory Board (FRAB), the independent body that overseas central government and NHS accounting guidance. Under both options, CIPFA/LASAAC would continue to be responsible for producing the Code, and CIPFA would continue to produce the Guidance Notes for Practitioners, so there would be little practical impact from the practitioner perspective. CIPFA/LASAAC is seeking comments by Thursday 20 March before taking a final decision whether to recommend this change to Ministers in England, Scotland, Wales and Northern Ireland. We would therefore be grateful to receive your comments on the proposals put forward in the accompanying consultation paper. Please sent your comments to colin.stratton@cipfa.org. DOWNLOAD: Consultation Paper (27 pages) - Word [317KB] | PDF [133KB] |
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SORP 2008 Invitation to Comment The CIPFA/LASAAC Local Authority SORP Board has today released the 2008 SORP Exposure Draft and Invitation to Comment for public consultation. The 2008 SORP would apply to accounting periods starting on or after 1 April 2008. The proposed developments are:
Comments on the SORP Invitation to Comment are invited by 30 January 2008. DOWNLOAD: Invitation to Comment (19 pages) - Word [306KB] | PDF [98KB] |
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Best Value Accounting Code of Practice 2007 Consultation on the Definition of Total Cost A consultation paper on the proposed amendments to the definition of ‘Total Cost’ to be included in the Best Value Accounting Code of Practice (BVACOP) 2007 is now available. DOWNLOAD: Consultation Paper (5 pages) - Word [69KB] | PDF [35KB] The consultation period will close on 3 December 2007. If you cannot download these documents from the website, copies are available on request from Julian Smith at CIPFA (tel. 020 7543 5795). The main proposed changes relate to:
The consultation paper outlines and explains the proposed changes and the proposed amended BVACOP text is contained in a separate track-changed attachment. Comments are invited by 3 December 2007. Please send your comments to bvacop2007.consult@cipfa.org. |
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Local Authority Transport Infrastructure Assets A draft report for consultation is now available, together with a consultation letter. DOWNLOAD: Consultation letter (1 page) - Word [265KB] | PDF [21KB] CIPFA is carrying out this review on behalf of H M Treasury and Department for Transport. The report looks in particular at the case for changing the accounting treatment of local authority infrastructure in the SORP to an asset management plan based approach. It also looks briefly at the possibility of applying an AMP based approach to other local authority capital assets. Comments on the draft will inform the final report to be published and submitted to Government in November. Responses are invited by 28 September. Please send these, preferably be email to Infrastructure.Assets@cipfa.org or to Steven Cain, Policy and Technical Directorate, CIPFA, 3 Robert Street, London WC2N 6RL The results of the consultation were submitted to the Project Steering Group on 30 October 2007. Submission of the final report was rescheduled in order to incorporate December 2007 decisions on
CIPFA is currently engaged in discussions with key government stakeholders before a final report can be published. |
Best Value Accounting Code of Practice 2007 Consultation on the England and Wales Service Expenditure Analysis A consultation paper on amendments to the Service Expenditure Analysis part of the England and Wales Best Value Accounting Code of Practice (BVACOP) 2007 is now available. DOWNLOAD: Consultation Paper (10 pages) - Word [105KB] | PDF [49KB] The consultation period will close on 31 August 2007. If you cannot download these documents from the website, copies are available on request from Marc Teiman at CIPFA (tel. 020 7543 5680). Amendments are proposed to the following divisions of service:
In addition a new service, National Parks, has been added. The consultation paper outlines and explains the proposed changes and the proposed amended BVACOP text is contained in a separate track-changed attachment. Comments are invited by 31 August 2007. Please send your comments to nicholas.campbell@ipf.co.uk or to Nick Campbell, IPF, No.1 Croydon, 12 - 16 Addiscombe Road, CRO OXT. |
SORP 2007 Invitation to Comment The CIPFA/LASAAC Joint Committee invites comments on proposed changes to the local authority SORP. DOWNLOAD: Invitation to Comment (Word doc, 555K) Proposed 2007 SORP Amendments The proposed changes that would apply to accounting periods commencing on or after 1 April 2007 are:
Consultation closed. |
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Best Value Accounting Code of Practice Consultation on Non-SEA amendments DOWNLOAD: BVACOP Consultation [Word doc, 90K] A consultation paper on amendments to the non-Service Expenditure Analysis part of the Best Value Accounting Code of Practice (BVACOP) 2006 is available (see above). There was a separate consultation on the proposed amendments to the SEA part of BAVACOP. This year the proposed amendments mainly arise from the removal from 2006/07 of the previous SORP requirement to make a capital financing in charge (notional interest) in an authority's statement of accounts. In past years total cost has often been used as an appropriate measure of cost for many charging, decision-making and management accounting purposes. However, in LAAP's view, the proposed 2006 BVACOP definition of total cost, which does not include notional interest, means that in some circumstances it would no longer be an appropriate measure of cost for these purposes and measures of cost that include notional interest will be more appropriate. Therefore if, as proposed, notional interest were removed from total cost in the 2006 BVACOP a number of matters would need to be addressed, the most significant of which would be:
Consultation closed. |
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Best Value Accounting Code of Practice Consultation DOWNLOAD: BVACOP Consultation [Word doc, 101K] A consultation paper on amendments to the Service Expenditure Analysis part of the Best Value Accounting Code of Practice (BVACOP) 2006 is available (see above). This year the proposed amendments are largely based on a series of recommendations made by practitioners who serve on one of the 20 service working groups run by the CIPFA Statistical Information Service (SIS). These groups review the service information collected by the SIS, which are based around the SEA divisions and subdivisions of services, and hence are well-placed to review the relevance of the SEA categorisations and the guidance notes. Amendments are proposed to the following divisions of service:
The consultation paper outlines and explains the proposed changes and the proposed amended BVACOP text is contained in a separate track-changed attachment. Consulation closed: The Local Authority Accounting Panel next meet on 23 November when responses to the consultation will be considered. |
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Good Governance in Local Government DOWNLOAD: Draft - Good Governance in Local Government: A Framework [word doc, 352K] In June, the CIPFA/SOLACE Joint Working Group on Good Governance in Local Government launched a consultation document Good Governance in Local Government which illustrates best practice for local authorities in developing and maintaining a local code of governance and making adopted practice open and explicit. The updated document takes account of the changes affecting local authority governance since the original framework 'Corporate Governance in Local Government: A Keystone for Community Governance' was published in 2001. Consulation closed: The consultation document was issued to local authorities and key stakeholders. The closing date for comments was 11 September 2006. The CIPFA/SOLACE Joint Working Group met on 18 October to consider the responses to the consultation. The Framework is currently being amended to take account of comments received. The Group is aiming to publish the new Framework together with guidance notes by Spring 2007.. |
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Code of Practice for Internal Audit in Local Government DOWNLOAD: Draft Code of Practice [word doc, 134K] CIPFA's Audit Panel has reviewed the Code of Practice for Internal Audit in Local Government, published in 2003. The panel has decided to revise the Code to ensure that it remains fit for purpose. The main influences and changes to the Code are;
A working group, including panel representatives and practitioners, has developed a revised draft. An initial draft was exposed to challenge from key stakeholders and experts. The Audit Panel is now inviting comments from a wider group of consultees, including individual heads of audit, audit groups, finance directors and treasurers societies, the Audit Commission, ODPM, the ICAEW and the Institute of Internal Auditors. You are invited to comment generally on the Code, but the panel would particularly welcome views on whether the current draft properly reflects the change issues listed above. The working group will be meeting again shortly to develop a self assessment checklist either to go with the Code or to be issued separately. Consulation closed For further information, please contact marc.teiman@cipfa.org |
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2006 Local Authority SORP The CIPFA/LASAAC Joint Committee consulted earlier this year on changes to the Code of Practice on Local Authority Accounting in the United Kingdom, A statement of Recommended Practice (the SORP) for 2006. The Joint Committee has also issued a discussion paper on changes (most probably for the 2007 SORP) consequential to new accounting standards for financial instruments. These standards have potential implications for the valuation of financial assets and liabilities and the treatment of gains and losses on early redemption of debt (premiums and discounts) that in turn could impact on the 'bottom line'/taxation. To view the consultation in full, please click here. Consulation closed: the 2006 SORP will be published in early July 2006. For further information please contact colin.stratton@cipfa.org |
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Financial Instruments FRS25 and 26 The CIPFA/LASAAC Joint Committee, the body responsible for the development and maintenance of the Code of Practice on Local Authority Accounting, issued a discussion paper on the incorporation of new accounting standards for financial instruments published by the Accounting Standards Board, FRS 25 Financial instruments: disclosure and presentation & 26 Financial instruments: measurement. Learn more. Consulation closed: the issues raised by the FRS 25/26 consultation will be included in the 2007 SORP consultation. For further information please contact colin.stratton@cipfa.org |