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.’
Improvements to cashflow statements are being targeted in a consultation launched by the Financial Reporting Council (FRC)
"The whole idea of HMRC officials supplying confidential information about individuals to the media on a non-attributable basis is, or should be, a matter of serious concern," say Supreme Court judges
Dr Richard Willis provides a several thousand-year history lesson of the profession, from origin to modern-day
The Financial Reporting Council has issued guidance regarding the annual reporting of 1,200 large and smaller listed companies. The letter highlighted the key issues and improvements that can be made in the 2016 reporting season