CIPFA to examine road accounting methods
News Article - 06 December 2006
Category:
Technology
The Chartered Institute of Public Finance and Accountancy
(CIPFA) are to review the accounting,
management and financial mechanisms of the UK's road networks, it
has been announced.
Appointed by the Department for Transport and HM Treasury, CIPFA
will conduct the project with the aim of exploring how information
from asset management plans could support local finance management,
policy development and resource allocations.
Ian Carruthers, the body's policy and technical director, said: "I
am delighted that CIPFA has been entrusted with this important
project."
He added that a well-designed accounting and financing
system for the country's local roads would be a "great asset"
when plans were being drawn up for the UK's future transport as
well as providing a clearer picture of public sector
finances.
Included in the work will be the duty of looking at data and issues
which need to be addressed in the implementation of a new approach
to valuing transport infrastructure assets of local
authorities.
Recently, CIPFA also carried out research to help housing
authorities to better understand the 2007-08 Housing Subsidy
Determination regarding grants received for housing purposes.
Article keywords:
CIPFA , accountancy, accountants
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