Higher Education Funding Council for England account : 2004-05

  • Higher Education Funding Council for England
Date:
2005
Catalogue details

Licence: Attribution 4.0 International (CC BY 4.0)

Credit: Higher Education Funding Council for England account : 2004-05. Source: Wellcome Collection.

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    Statement of the Higher Education Funding Council for England and the Chief Executive's responsibilities Under section 16 of schedule 1 to the Further and Higher Education Act 1992, the Higher Education Funding Council for England (the Council) is required to prepare a statement of accounts for each financial year in the form and on the basis determined by the Secretary of State for Education and Skills, with the consent of the Treasury. The accounts are prepared on an accruals basis (modified by the revaluation of fixed assets) and must show a true and fair view of the Council's state of affairs at the year end and of its income and expenditure and cash flows for the financial year. In preparing the accounts the Council is required to WM observe the accounts direction issued by the Secretary of State for Education and Skills, including the relevant accounting and disclosure requirements, and apply suitable accounting policies on a consistent basis; mM = make judgements and estimates on a reasonable basis; ™@ state whether applicable accounting standards have been followed and disclose and explain material departures in the financial statements; and M@ sprepare the financial statements on the going concern basis, unless it is inappropriate to presume that the body will continue in operation. The Accounting Officer for the Department for Education and Skills has designated the Chief Executive as the Accounting Officer for the Council. His relevant responsibilities as Accounting Officer, including his responsibilities for the propriety and regularity of the public finances for which he is answerable and for the keeping of proper records, are set out in the non-departmental public bodies Accounting Officers’ Memorandum, issued by the Treasury and published in Government Accounting.