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Financial Reporting Guidance

Code of Practice on the Highways Network Asset (2016)


This Code has been updated following CIPFA/LASAAC’s decision to measure the Highways Network Asset in accordance with this Code from 1 April 2016.


Previous documents:
Code of Practice on Transport Infrastructure Assets: Guidance to Support Asset Management, Financial Management and Reporting (2010, updated 2013)

This Code of Practice from CIPFA provides guidance on the development and use of financial information to support asset management, financial management and reporting of local highways infrastructure assets. It was been prepared at the request of the Government and implements a key recommendation from the CIPFA review of local authority transport assets which reported in 2008.

Click here for more information, including details of Guidance published in 2015.

Primary users will be finance staff responsible for highways’ financial management, corporate budgeting and financial planning and highway engineers in charge of managing and operating the assets. The content will also be used to report the assets on a current value basis in Whole of Government Accounts.

CIPFA publish supporting materials to help with comply with the Code of Practice on Local Authority Transport Infrastructure Assets

From 2016/17 the Code of Practice on Local Authority Accounting in the UK will require local authorities to account for their infrastructure assets in the statement of accounts in accordance with the Transport Infrastructure Assets Code.  The Whole of Government Accounts, has required certain disclosures from 2009/10.

Click here for further information.