Accounting Policies used in the Preparation of the Statement of Accounts 2019/20
Decision Maker: Audit, Risk and Governance Committee
Decision status: Recommendations Approved
Is Key decision?: No
In preparing the statement of accounts, the
chief finance officer is responsible for selecting suitable
accounting policies and ensuring that they are applied
consistently. Accounting policies are the specific principles,
bases, conventions, rules and practices applied in preparing and
presenting the financial statements.
Khadija Saeed, Head of Corporate Finance, presented the Accounting Policies used in the preparation of the Statement of Accounts 2019/20. It was clarified that the wording in the policy had been simplified in line with current Chartered Institute of Public Finance and Accounting (CIPFA) guidance, however there was no change to the substance of the policy.
Resolved: That the accounting policies proposed to be used in the preparation of the Statement of Accounts 2019/20, as presented be approved.
Report author: Jeanette Moister
Date of decision: 27/01/2020
Decided at meeting: 27/01/2020 - Audit, Risk and Governance Committee