English to Russian Bus/Financial Accounting

Hayday believes that local authorities will
move more easily to IFRS than the civil service
is doing – for the simple reason, he argues, that
accounting practices and the quality of financial
reports in local government were already
superior to those in central government. But,
he accepts, councils will have to take on further
tasks. “There is clearly going to be more work
around accounting for capital assets,” he says.