Issue - meetings
IFRS Report
Meeting: 15/03/2010 - Audit Board (this committee has been combined with the Audit, Standards & Governance Committee and no longer meets) (Item 43)
43 International Financial Reporting Standards (IFRS) 
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Minutes:
Consideration was given to a report which informed Members of the current position of the Council regarding the transition to International Financial Reporting Standards (IFRS. The report highlighted the benefits in consistency and comparability between financial reports in the global economy and to follow private sector best practice. Members were informed that is was important throughout the transition period to engage with the Council’s external auditors, the Audit Commission.
RESOLVED that the Council’s preparations for the introduction of International Financial Reporting Standards be noted.