Consultation outcome

Local authority budget setting: mitigating the impact of fair value movements on pooled investment funds

This consultation has concluded

Download the full outcome

Local authority budget setting: mitigating the impact of fair value movements on pooled investment funds - Summary of consultation responses and government response

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Detail of outcome

This document sets out the feedback that we received on the consultation on mitigating the impact of fair value movements on pooled invest funds. It also sets out the government’s intentions going forward.

Original consultation

Summary

This consultation is seeking stakeholders’ views on potential mitigations to the introduction of IFRS9 Financial Instruments accounting standards.

This consultation ran from
to

Consultation description

From the 2018 to 2019 financial year, local authorities will be required to implement a new accounting standard: IFRS 9 Financial Instruments.

IFRS 9 updates the accounting treatment and risk disclosures to be included in financial statements by entities that hold financial instruments.

The sector has made representations to government claiming that some of the provisions in IFRS 9 Financial Instruments will have negative impacts. We are consulting on potential mitigations to those provisions.

Documents

Consultation on mitigating the impact of fair value movements on pooled investment funds on local authority budget setting

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If you use assistive technology (such as a screen reader) and need a version of this document in a more accessible format, please email alternativeformats@communities.gov.uk. Please tell us what format you need. It will help us if you say what assistive technology you use.

Published 25 July 2018
Last updated 8 November 2018 + show all updates
  1. Added summary of consultation responses and government response.
  2. First published.