Decision details

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

Purpose:

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.

Decisions:

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

Accompanying Documents: