15 October 2008
Source: The MJ (Local government is rapidly changing - to be effective in this environment it is essential that you have access to the most up-to-date and detailed information. <strong>The MJ</strong> is the magazine that will help you to come up with practical solutions to everyday issues in this changing landscape. Every week <strong>The MJ</strong> publishes the latest news, features, editorial and industry comment on the following key issues: Management * Legislation * The White Paper * The Lyon’s Report * Regional government * CPAs * Business * Finance * Education * Adult and Children’s Services * E Government * And much more…)

Audit Commission sticks to background role


The Audit Commission has been reluctant to be drawn into the crisis over council investments in Icelandic banks.

Officials said that, as a public spending watchdog, it ‘comments retrospectively on local authorities’ financial structures, and their use of resources in delivering public services.’

The commission said it had ‘no role in prospectively evaluating councils investment portfolios or commenting on where deposits are placed.’ It did, however, stress: ‘The current situation is fluid, and it would be pre-emptive to describe any deposits as “lost” while international discussions are being held. It is worth saying, though, that the Audit Commission generally finds treasury management to be one of the strengths of local government.’



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