Commission has said it will use savings from its efficiency programme to
help councils, primary care trusts and other local bodies with the cost of
moving to International
Financial Reporting Standards.
The package, worth £3.3m, is designed to cover the costs of moving to the new
accounting standard, which is due to be introduced in 2010 and will apply to all
The public spending watchdog said the rebate will be funded by cutting its
NHS trusts — the first public bodies to move to IFRS — will receive a
one-off rebate in December and councils in December 2010.
Commission chairman Michael O’Higgins said: ‘All public bodies are feeling
the chill. The introduction of the new [IFRS] standard does impose an extra cost
on them and we wanted to help.’
Andrew Tyrie airs views on the Finance Bill, 'Making Tax Policy Better' report, and Brexit
The ACCA has announced a regular Global Forum focussing on education
After a seven-year saga, a result has been reached between Margaret May and CIMA over misconduct
ACCA and Morison KSi have signed a global Memorandum of Understanding (MOU) to raise accountancy profession standards