WARNING - By their nature, text files cannot include scanned images and tables. 
The process of converting documents to text only, can cause formatting changes and 
misinterpretation of the contents can sometimes result. Wherever possible you 
should refer to the pdf version of this document.



CAIRNGORMS NATIONAL PARK AUTHORITY 
Audit Committee Paper 6 17/04/09 

CAIRNGORMS NATIONAL PARK AUTHORITY 


FOR DISCUSSION 


Title: EXTERNAL AUDIT REVIEW: INTERNATIONAL FINANCIAL 
REPORTING STANDARDS (IFRS) 

Prepared by: STEPHEN O’HAGAN, AUDIT SCOTLAND 
DAVID CAMERON, HEAD OF CORPORATE SERVICES 

Purpose 

To present Audit Scotland’s review of the Authority’s restated balance sheet 
at 31 March 2008, as required by Scottish Government’s timetable for 
adoption of International Financial Reporting Standards. 

Recommendations 

The Committee is asked to: 

a) Consider the external auditor’s findings following review of Authority’s 
restated balance sheet at 31 March 2008, as required by Scottish 
Government’s timetable for adoption of International Financial 
Reporting Standards; 

Executive Summary 

Government Departments and other public sector bodies will produce 
financial reports using International Financial Reporting Standards (IFRS) with 
effect from 2009/10. In line with Scottish Government timetables for the 
transition to this system, the Authority is required to produce shadow IFRS 
accounts for 2008/09. 

The first step in this process has been for the Authority to produce a restated 
balance sheet as at 31 March 2008 under IFRS. This has been completed by 
the Finance Manager and submitted, in line with timetable, to Scottish 
Government. 

The report from Audit Scotland set out at Annex 1 sets out the results of their 
review of this restated balance sheet.