Bid to relax accountancy codes rejected

By Michael Burton | 07 April 2020

Plans to streamline the preparation of last year’s local authority accounts to reduce the burden on finance departments struggling with the impact of the coronavirus have been scrapped after regulators objected.

As a result finance teams fear delays in producing 2019/20 accounts will impinge on planning budgets for 2020/21 just as councils face reductions in income from business rate and charges due to the virus.

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