Preperation and Publication of Statutory Financial Accounts 2021/2022

The current expectation is that the statutory instrument amending the Local Authorities (Capital Finance and Accounting) (Wales) Regulations 2003 will be in force from [3 December 2022] and the amendment to the Code will be approved by mid November.  Accordingly I am writing to suggest colleagues should seek to achieve publication of final audited accounts by 31^st January 2023.  

The Accounts and Audit (Wales) Regulations 2014 already make provision for an authority having to delay preparing and publishing their annual financial accounts. By virtue of regulation 10(4) authorities are able to include a note on websites to say why they haven’t prepared or published their accounts within existing deadlines to comply with legislation.