Health and social care integration: finance guidance

7 Accounting standards

7.1 Overview

7.1.1 The accounting standards as adapted for the public sector will apply to the Integration Joint Board and it is anticipated that the Code of Practice on Local Authority Accounting in the UK will be the applicable guidance for their interpretation.

7.1.2 The Local Authorities and Health Boards will continue to use the existing guidance in the preparation of their financial statements as well as consolidate the Integration Joint Board as a joint arrangement. Further guidance on the reporting requirements is in section 3.1.2.

7.2 Draft IFRS

7.2.1 Guidance relating to future changes to the reporting standards will be through the existing arrangements for the amendment of the Local Authority Code of Practice and Unified Board Accounts Manual.