Local government in Wales are experiencing severe and unprecedented financial challenges, driven by escalating service demands, rising inflation, and sustained funding pressures. Given these challenges, the importance of producing high-quality and timely financial accounts cannot be overstated.

Accurate and transparent financial reporting is essential for accountability, informed decision-making, compliance, and building trust. It also provides a clear picture of a body’s financial health. Moreover, good quality financial accounts are fundamental to a smooth and effective audit process.