08 May 2019 
Matt Sisson, Projects and Membership Manager
OfS has confirmed that the accounts direction will not change for the audited financial statements for the year ended 31 July 2019.
The regulator is currently drafting an updated accounts direction currently that will apply for accounting periods beginning on or after 1 August 2019. It is likely to allow early adoption of the new accounts direction in whole or in part but, in the absence of a provider choosing early adoption, the currently published accounts direction will continue to apply for 2018-19. OfS will publish by July but intend to undertake a soft consultation prior to publication so providers will have sight of the proposed contents before then. This should also enable providers to decide whether there are elements of the new accounts direction that they would wish to adopt in their 2018-19 financial statements.
