Local authorities will be unable to meet statutory duties and achieve best value without an adequate accounting framework, CIPFA warned yesterday.
In a consultation document, the institute said the best value regime required council financial information to appear in local performance plans. It will also be used for performance reviews, and councils will have to revise audit and inspection arrangements.
‘In this context, the revision of the accounting framework needs to consider how financial information is to be presented in future, and who will use the information,’ said CIPFA policy and technical director Vernon Sore.
Council treasurers welcomed the move. West Sussex county treasurer Helen Kilpatrick said the framework must be robust but not a ‘bureaucratic straitjacket’, so authorities can respond to their own local circumstances.
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