Back to Basics: What do good working papers look like? 

This workshop set out the projects that CIPFA are undertaking to ensure local government financial statements provide users with the information that they require on a timely basis, with a focus on changes to the measurement of property, plant and equipment for the 2025-26 financial year. There was an opportunity to discuss the barriers to valuing, accounting for and auditing property, plant and equipment, as well as how valuers, accountants and auditors can find solutions to ensure that financial statements contain timely and high-quality information. This document provides an overview of discussion points during the workshop. 

Enhancing Local Government Financial Statements: Overcoming Barriers in PPE Valuation and Audit 

This session examined the essential characteristics of high-quality working papers and their role in supporting accurate and timely financial reporting. It also considered how effective collaboration between the accounts team and auditors can enhance the efficiency and timeliness of the audit process. This document provides an overview of discussion points during the workshop.