Post-Iceland investment code published
Councils should ramp up the scrutiny and reporting of their investments, according to new guidelines published by the Chartered institute of Public Finance & Accountancy (CIPFA).
The long awaited guidelines are the first to have been issued by CIPFA since the Icelandic banking crash and follow substantial consultation.
The new guidelines can be read here.
An updated version of the prudential code has also been published and includes changes required following the move to International Financial Reporting Standards.
The publications follow the launch in October of the new treasury management qualification developed jointly with the Association of Corporate Treasurers.
CIPFA said initial take-up of the six-month course had been very encouraging. The next course is due to start in April.
Alison Scott, assistant director, local government finance at CIPFA, said: “The revised Codes have been strengthened and the qualification introduced to deliver a more confident and better trained treasury function with enhanced scrutiny by elected members”.
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