Local authority accounts generally 'well-prepared' despite challenges
But some authorities failed to meet statutory deadlines for 2010-11, says Auditor General.
Most of the 2010-11 local authority accounts in Wales were prepared and audited on time, with two exceptions. That is despite the fact that 2010-11 was a challenging year due to a number of accounting changes, particularly having to adopt International Financial Reporting Standards (IFRS) for the first time, which represented a fundamental change to the way financial statements were prepared. The Auditor General's report, published today, summarises the work of the external auditors he appoints to local government bodies for the 2010-11 financial year.
For a copy of the full press release, follow this link.
For a copy of the report, follow this link