Issue - meetings
Statement of Accounts – 2023/24 – Update and Accounting Policies
Meeting: 25/07/2024 - Audit and Governance Committee (Item 10)
10 2023/24 Statement of Accounts Update and Accounting Policies 
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Purpose:
This report presents the accounting policies to be included in the 2023/24 Statement of Accounts. This provides Members with the opportunity to review and approve the policies in advance of the preparation of the Statement of Accounts 2023/24. Approving the accounting policies in advance of the preparation of the accounts represents best practice.
Recommendation:
That the Audit and Governance Committee resolves to:
- Consider and approve the draft accounting policies for 2023/24 included at Annex A;
- Note that further necessary amendments to the policies set out at Annex A (occurring subsequent to this meeting) are included within the draft (unaudited) and/or final (audited) Statement of Accounts when presented to this Committee.
Invited:
Madhu Richards, Director of Finance
Georgina Dyer, Chief Accountant
Additional documents:
Minutes:
Madhu Richards, Director of Finance, introduced the report that presented the accounting policies to be included in the 2023/24 Statement of Accounts. This report provided Members with the opportunity to review and approve the policies in advance of the preparation of the Statement of Accounts 2023/24. Approving the accounting policies in advance of the preparation of the accounts represented best practice.
It was explained that the report would be on the website by 31 July and they tend be done in the same format unless CIPFA suggested any changes.
RESOLVED that the Audit and Governance Committee AGREED to
1. Consider and approve the draft accounting policies for 2023/24 included at Annex A.