Local Government Channel

Iceland Banks: 7 Councils Negligent

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LGiU on the Audit Commission's report into local authority deposits in Iceland

The Audit Commission has released the first in depth examination into English local authorities' deposits in the Icelandic banks. On the whole they found the majority of councils acted properly but that 7 councils breached guidelines from the Chartered Institute of Public Finance and Accountancy (Cipfa). Andrew Collinge, Director of Policy at the Local Government Information Unit, LGiU, tells the Local Government Channel what must happen to stop similar breaches and explains what impact this could have on public services.

Click here to visit the Audit Commission's website...


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