HM Treasury have extended the ‘administrative’ financial reporting deadline, for central government entities, for the 2019-20 year end from 31 July to 30 September. HM Treasury also stress that that the legal deadline is 31 January which can be seen as a fall back option.
Further developments are expected in respect of the detail of the financial reporting. The Financial Reporting Advisory Board (FRAB) is meeting on 8 April and will approve what further actions, if any, to take. We will keep you informed.
Other developmentsICAEW’s public sector team is forming a Public Sector Advisory Group to help shape ICAEW’s public sector work stream so that it remains relevant and in the interest of our members and in the interest of the greater public good. If you want to know more please contact us at: firstname.lastname@example.org
It's hard for business to survive. Companies have mandatory payments, but reduced revenues.