This conference provided those responsible for financial reporting the opportunity to start to plan for the financial year-end.
This paper is intended to update HFMA members on developments in financial reporting that may affect them as finance professionals working in the NHS.
NHS bodies’ audit reports have been qualified due to failures to meet the requirements of Managing public money.
NHS England has issued guidance to support the 2023/24 year-end reconciliation across general dental service contracts and personal dental services agreements.
The NHS in England ended 2023/24 with an underspend of £30m – just 0.01% under plan, according to draft accounts.
The Department of Health and Social Care must return to publishing its accounts before the summer recess and set out a timetable for achieving this.
The Department of Health and Social Care and the UK Health Security Agency are getting the basics unacceptably wrong in their financial management and accountability for public spending, according to the Public Accounts Committee.
IFRS 19 allows eligible subsidiaries to use IFRS accounting standards with reduced disclosures. This is intended to reduce costs of preparing accounts, while maintaining their usefulness.
The example has been updated to reflect the changing financial landscape, to flag future changes to guidance, and minor changes.
The new standard is effective from 2027 and is intended to standardise the presentation of profit.