Please note that this consultation closed on 6 April 2016
The CIPFA/LASAAC Local Authority Accounting Code Board (CIPFA/LASAAC) Code of Practice on Local Authority Accounting in the United Kingdom 2016/17 (‘the Accounting Code’) includes the move to measuring the local authority Highways Network Asset at Depreciated Replacement Cost (DRC) instead of historical cost from 1 April 2016.
Following this decision the Code of Practice on Transport Infrastructure Assets has also been updated and is now subject to consultation, detailed in the documents downloadable below.
The title of the Code will change to become the Code of Practice on the Highways Network Asset (HNA Code).
It is important to note that proposed changes are not intended to change the principles or measurement processes within the HNA Code. The changes are intended to do the following:
- Reflect the CIPFA/LASAAC decisions
- Clarify any ambiguities raised in the implementation process
- Provide more robust links to the Accounting Code
Documents published for the consultation: