The CIPFA/LASAAC proposal for the Code of Practice for Local Authority Accounting in the UK (the Code) to move to a FRAB based governance arrangement has now been approved by Ministers. This extension of the Financial Reporting Advisory Board’s remit takes place with immediate effect and will apply to the 2010-11 Code onwards.

The transitional arrangements involve the 2009 Code being the last to have SORP status and ASB oversight. In parallel with work on preparing the 2009 SORP, CIPFA/LASAAC has also started preparing the new IFRS based Code for 2010-11 and will operate under FRAB linked terms of reference for this part of its work.

Charities

The Charity Commission and the Office of the Scottish Charity Regulator, as the joint SORP making body for the charity sector, are taking forward a research programme to learn from stakeholders how the next Charities SORP could better reflect their needs in reporting and accounting. Following the Stakeholders’ Forum that was held on 25 April, the next phase of the research project involving a series of roundtable events between September 2008 and March 2009 is now underway.

Further information on the roundtable events is available on the Charity Commission website at http:// www.charity-commission.gov.uk/ investigations/sorp/comresearch.asp

People