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

Social Worker - Early Interventions

Essex County Council
£32065 - £43839 per annum
Social Worker - Early Interventions Permanent, Full Time £32,065 - £43,839 per annum Location
Recuriter: Essex County Council

Social Worker - Local Linked Support Team

Essex County Council
£32065 - £43839 per annum
This is a full time fixed term contract for 12 month or a 12 month Secondment.About the RoleThis is a community-based role within the Harlow area. You England, Essex, Epping
Recuriter: Essex County Council

Property and Projects Lawyer

Brent Council
£43,860 - £49,827 p.a. inc.(pro rata)
The successful candidate will have the opportunity to supervise junior staff and deputise in the absence of the Senior Property Lawyer. Wembley, London (Greater)
Recuriter: Brent Council

Business Support Officer

Camden London Borough Council
£29,359
We have recently changed the way that we work so that we are more responsive to... Camden, London (Greater)
Recuriter: Camden London Borough Council

Accountancy and Business Change Manager

Royal Borough of Greenwich
£49.827 - £52.866
An opportunity has arisen within our Accountancy Business Partnership Service for an Accountancy Business Change Manager. Reporting Greenwich, London (Greater)
Recuriter: Royal Borough of Greenwich

Public Property

Latest issue - Public Property News

This issue of Public Property examines how how flexible workspaces can lead the way in regeneration for local authorities, Why local authority intervention is key to successful urban regeneration schemes and if the Government’s challenge of embracing beauty is an opportunity for communities.

The March issue also takes a closer look at Blackburn with Darwen Council's first digital health hub to help people gain control over health and care services.

Register for your free digital issue