21 May 2021

New guidance on council-owned companies to be published

New guidance on council-owned companies to be published image

Councils will soon be issued guidance on governance arrangements for local authority trading companies (LATCs) by the Chartered Institute of Public Finance and Accountancy (CIPFA).

CIPFA said it was developing the guidance in the wake of failed commercial ventures in Croydon and Nottingham.

The guidance - set to be published in the Autumn - will focus on reducing risk and building stronger assurance processes, while supporting chief finance officers to improve good financial management.

CIPFA CEO, Rob Whiteman, said: 'Since 2011, LATCs have come to deliver a wide range of services across the country. Despite this, recent public interest reports show there is a lack of clear guidance to support such arrangements and a lack of data on the possible risk to the financial resilience of the sector.

'While not a formal code of practice, this guidance will build on the best examples the sector has to offer to develop greater trust in public financial management and reduce the financial and reputational risks for councils who own companies.'

SIGN UP
For your free daily news bulletin
Highways jobs

Head of Democratic Services, Elections & Monitoring Officer

Harborough District Council
Grade 12 £67,236 – £71,223 plus £3000pa Statutory Officer Allowance
We are looking for an accomplished and proactive leader for our vacant post of Head of Democratic Services & Elections Market Harborough, Leicestershire
Recuriter: Harborough District Council

Social Worker - Family Support and Safeguarding - Bicester Banbury

Oxfordshire County Council
£37035 - £47754
You will manage a caseload tailored to your experience, ensuring that children’s and their families’ voices are heard, and their needs are met. You will work with families using the FSP Workbook modules, and a strengths-based approach, ensuring the As Bicester
Recuriter: Oxfordshire County Council

Executive Director of Resources & Governance (S151 Officer)

Basildon Borough Council
Up to £146,245
Together, we lead. Together, we deliver. Together, we transform. Basildon, Essex
Recuriter: Basildon Borough Council

Executive Director of Homes, Communities & Environment

Basildon Borough Council
Up to £146,245
Together, we lead. Together, we deliver. Together, we transform. Basildon, Essex
Recuriter: Basildon Borough Council

Executive Director of Strategy, People & Transformation

Basildon Borough Council
Up to £146,245
Together, we lead. Together, we deliver. Together, we transform. Basildon, Essex
Recuriter: Basildon Borough Council
Linkedin Banner