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Consultations
CLG: A new local audit regime that delivers value for money, greater responsibility for local bodies and the same tough audit standards was set out in draft legislation for consultation recently (closes on 31 August 2012). This is the next step in a series of reforms already underway to replace the Audit Commission with a new local audit framework.
The Government's decision to close the AC and ask it to outsource all of its work to the private sector has already reduced audit fees by 40%. These reforms are set to save the public purse £650m over the next 5 years.
Press release & links ~ Draft Local Audit Bill consultation
DfT: The Department for Transport is consulting (closes on 2 October 2012) on how to bring the process for assessing eligibility for blue disabled parking badges in to line with the wider reform of disability benefits announced by the Department for Work and Pensions.
Press release & links
HMT: The Government has published a consultation (closes on 1 October 2012) aimed at giving oil & gas companies more certainty over the level of tax relief on the costs of decommissioning used assets in the North Sea.
It proposes the creation of Decommissioning Relief Deeds, which specify the levels of relief that companies will receive. Companies will also receive new certainty on the level of relief they will receive when liable for the decommissioning costs of another party which has defaulted.
Press release & links
Defra: Plans to reform the water industry were published in Parliament last week. Under the proposals, which have been published for pre-legislative scrutiny, all businesses & public sector bodies in will be able to switch their water & sewerage suppliers, allowing them to obtain more competitive prices, improve their efficiency and tender for services better suited to meet their individual needs.
The legislation will also make it easier for bulk water trading within the industry, allowing water companies to work more closely to find long term solutions to water security issues. Although they are not formally consulting on the proposals within the draft Water Bill, if you wish to make any comments these should be forwarded by email.
Press release & links
DfT: More frequent flights to emerging markets, improved access to airports - including £500m towards a new rail link to Heathrow - and a reduction in the impact of airports on local communities is to be put at the heart of
The draft policy framework (consultation closes 31 October 2012), which will form the basis of future sustainable aviation growth in the
Press release & links ~ WWF comment
DfT: Updated speed limit guidance to help local authorities improve safety on their roads has been published for consultation (closes on 5 October 2012). The guidance provides up-to-date advice to aid greater consistency of speed limits on local roads across
It incorporates recent changes that have increased flexibility for local authorities to implement 20mph limits and zones where it can be shown that they benefit road safety and quality of life. It also gives authorities more information about the new speed limit appraisal web tool which will help authorities fully assess the impact of any change to a speed limit in their area.
Press release & links
BIS: New proposals on options forming part of a proposed Consumer Bill of Rights have been announced. The consultation (closes on 5 October 2012) seeks views on rights & remedies for goods & services and digital content supplied under a contract.
The Bill of Rights will set out in one place a clear code of shopping rights and simple standardised remedies for when things go wrong. Businesses will benefit from the simplified set of rules, which are intended to clear up customer issues more quickly.
Press release & links
FRC: The European Financial Reporting Advisory Group (EFRAG), the Autorité des Normes Comptables (ANC) in France, and the Financial Reporting Council (FRC) in the UK
A major concern around the world is that the notes to the financial statements have become a real burden and it is not clear that they serve their intended purpose which is to help users understand the numbers in the financial statements. The Discussion Paper is open for comment until 31 December 2012.
