Finance Directors Response to the Monitor Consultation
30 September 2008
The Association of UK University Hospitals (AUKUH) Finance Directors have responsed to the Monitor consultation on an IFRS based NHS Foundation Trust Financial Reporting Manual for 2009/10. The Directors have serious concerns regarding the potential interpretation of IAS27 in respect of NHS charitable funds.
The consolidation of NHS charitable funds into the accounts of Foundation Trusts (and NHS Trusts) would create a strong public perception that charitable funds and public finds are indistinguishable, interchangeable and that they are managed in the same way by the same people. This is clearly not the case and any such public perception will seriously jeopardise future charitable donations and may even lead to legal challenges from previous donors.
The full consultation response is available to download: