2023/24 Code of Practice on Local Authority Financial Reporting in the United Kingdom


Please note:  This consultation is now closed.

Consultation on the 2023/24 Code of Practice on Local Authority Financial Reporting in the United Kingdom

CIPFA LASAAC has issued its annual consultation on the 2023/24 Code of Practice on Local Authority Accounting in the United Kingdom (the Code).

The 2023/24 Code will apply to accounting periods starting on or after 1 April 2023.

Issues considered in the consultation

The changes and feedback requested in the invitation to comment (ITC) for the 2023/24 Code relate to the following.

  • A stable platform, including the voluntary adoption of IFRS 16. Note that there is separate work under way on infrastructure assets reporting.
  • Changes to accounting standards.
  • Updates to the Code because of legislation changes.
  • IFRS 17 Insurance Contracts.
  • CIPFA LASAAC's strategic plan, including:
    • the communication of the key messages in the financial statements also featuring the work of CIPFA’s Financial Reporting Hub (FRHub)
    • sustainability reporting
    • review of the structure and format of the Code.

The invitation to comment and exposure drafts of the 2023/24 Code

The exposure draft of the 2023/24 Code is provided as several files. They are listed in numerical order and follow the order of the section in the ITC in which an issue is discussed, not the section of the Code itself.

Invitation to comment PDF

Exposure drafts (EDs)

The invitation to comment summarises the proposed changes to the Code. Where CIPFA/LASAAC is interested in specific issues, consultation questions have been included in the ITC. However, CIPFA/LASAAC welcomes comments on any aspect of the draft 2023/24 Code. In order to assess comments properly, respondents are asked to support comments with clear accounting and financial reporting reasons and, where applicable, preferred alternatives.

Responses are requested by 14 October 2022, 23:00.

Responses to the consultation can be by letter or email to cipfalasaac@cipfa.org.

Webchat is only available Monday to Friday, 09:00 - 17:00 (excluding UK bank holidays)