29 May 2019 
Matt Sisson, Projects and Membership Manager
As reported in the weekly digest 3 weeks ago OfS are drafting an updated accounts direction currently that will apply for accounting periods beginning on or after 1 August 2019. They are 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. They’re planning to 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
OfS have however confirmed today re the 18/19 accounts direction that they are “looking to resolve their approach on agency costs very shortly and will let providers know in due course”. We will keep you posted.
