Public Sector Financial Reporting Insights

Parliament launches inquiry into local government financial reporting

Call for evidence as House of Commons committee announces an inquiry into local government financial reporting and audit, following ICAEW’s campaign.

ICAEW publishes its vision for local audit

In response to the crisis in financial reporting and audit in local authorities in England, ICAEW argues that urgent action is needed to bring confidence to the finances of local public bodies.

ICAEW calls for lessons to be learnt from COVID-19 grant schemes

Jonathan Djanogly MP quotes ICAEW evidence as he asks whether the business department needs to change its approach to recovering fraud losses from COVID-19 support schemes.

The vital role of local authority accounts

Two experts explain how the financial statements provide important information on the financial sustainability of local authorities despite audit delays that impact their usefulness.

The role of accounts in an effective audit system

Unacceptable delays in the local audit system must be addressed if local authorities want to ensure accountability to the local electorate, says Rob Whiteman.

SDG reporting in the public sector: the future

The 2030 Agenda for Sustainable Development is a historic global agreement agreed by world leaders at the United Nations in 2015. Seven years on, reporting on the 17 Sustainable Development Goals (SDGs) remains a work in progress.

How can local authority finance teams make the audit process easier?

What steps can local government finance teams take to cut the pain points in audit and pave the way for a smooth, productive process? Three experts provide their thoughts.

Financial and non-financial reporting in the health sector

Legislative delays, new statutory bodies and the introduction of IFRS 16 are all adding to the challenges facing health sector finance teams.

The future of public sector operational property valuation methods

With an HM Treasury review into the valuation of operational assets due to be published imminently, potential changes could have a significant impact on public sector accounts preparers and auditors.

Why politicians should pay attention to government financial reports

Following last week’s Autumn Statement, Dr Elaine Stewart, a Lecturer in Accounting at Queen’s University, argues that politicians should use accounting data to inform policymaking and to explain how public money has been spent.