An effort to reduce the accounts preparation burden on local authorities in the midst of coping with the Covid-19 crisis was recently abandoned. Stephen Sheen looks at the implications. This[…]
Its the time of year when finance teams focus on their statement of accounts. Stephen Sheen argues that pushing back the deadline for audited accounts is not enough. There is[…]
Local government audit failed to reach optimum performance levels this year: Deadlines were missed and key staff lost. Things will need to improve in 2020, says Stephen Sheen Well, that[…]
The pressure has been on external auditors this Summer. The first year of the new Public Sector Audit Appointments (PSAA) contracts, with fees cut by 23%, reshuffled appointments, and firms[…]
When the Prudential Code was being developed, there was no expectation that it was going to be a document that was going to change the world. Its function was largely[…]
Central government last week decided to allow Northamptonshire County Council to use capital receipts from the sale of its headquarters to balance its revenue budget. Stephen Sheen investigates the accounting[…]
Stephen Sheen looks at how a suite of new accounting standards will impact preparations for next year’s statements of accounts. As the ink dries on the 2017/18 statement of accounts,[…]
After a decade of deliberation the IFRS 16 lease accounting standard is set to hit local authorities. Stephen Sheen writes the change means a substantial piece of work for finance[…]
The accounting standard IFRS 9 has prompted much debate. Last week, Peter Worth argued against a statutory override. This week Stephen Sheen makes the case for it. In a previous[…]
For those with a sense of humour IFRS 9 is sadly no practical joke. It’s time to prepare for impairment losses… and a game of Jumanji. While we wait expectantly[…]
