Whole of government accounts

Preparation.
9
1
The Treasury shall prepare in respect of each financial year a set of accounts for a group of bodies each of which appears to the Treasury—
a
to exercise functions of a public nature, or
b
to be entirely or substantially funded from public money.
2
Accounts prepared under this section may include information referring wholly or partly to activities which—
a
are not activities of bodies falling within subsection (1), but
b
appear to the Treasury to be activities of a public nature.
3
The accounts shall contain such information in such form as the Treasury think fit.
4
In determining the form and content of the accounts the Treasury shall aim to ensure that the accounts—
a
present a true and fair view, and
b
conform to generally accepted accounting practice subject to such adaptations as are necessary in the context.
5
For the purpose of subsection (4)(a) and (b) the Treasury shall in particular—
a
have regard to any relevant guidance issued by the Accounting Standards Board Limited or any other body prescribed for the purposes of section 464 of the Companies Act 2006 (accounting standards) or to UK-adopted international accounting standards, within the meaning given by section 474(1) of the Companies Act 2006, and
b
ensure that the accounts include, subject to paragraph (a), a statement of financial performance, a statement of financial position and a cash flow statement.
Words in s. 9(5)(a) substituted (6.4.2008) by The Companies Act 2006 (Consequential Amendments etc) Order 2008 (S.I. 2008/948), art. 2(2), Sch. 1 para. 214 (with arts. 6, 11, 12)
Words in s. 9(5)(a) substituted (31.12.2020) by The International Accounting Standards and European Public Limited-Liability Company (Amendment etc.) (EU Exit) Regulations 2019 (S.I. 2019/685), reg. 1(2), Sch. 1 para. 49 (with reg. 1(3)(4)) (as amended by S.I. 2020/523, regs. 1(2), 22); 2020 c. 1, Sch. 5 para. 1(1)
Words in s. 9(5)(a) inserted (with effect in accordance with reg. 1(2) of the amending S.I.) by Companies Act 1985 (International Accounting Standards and Other Accounting Amendments) Regulations 2004 (S.I. 2004/2947), reg. 1(2), Sch. 7 para. 14(b)