FINANCE GUIDANCE NOTE 2008-03
SPFM AMENDMENTS
The purpose of this note is to announce recent substantive amendments to the Scottish Public Finance Manual (SPFM). The amendments are as follows:
- the section on Audit Committees has been updated to take account of the recently published SG Audit Committee Handbook and the associated Guidance for Audit Committee Members in the Core Scottish Government.
- the section on Delegated Authority has been revised to provide more generic guidance to public sector organisations to which the SPFM is directly applicable. It now includes a requirement for all such organisations to establish documented internal delegated authority arrangements appropriate to their circumstances.
- the section on VAT has been updated to provide clarification on a number of points including the VAT relationship between Government Departments (GDs) and the use of VAT consultants. Sponsored bodies are not considered to be GDs for VAT purposes and must comply with the relevant VAT regulations.
Other sections of the SPFM that have been reviewed and updated recently, without substantive amendment, are as follows:
Scottish Government Finance Directorate
September 2008