The HFMA largely agrees with the proposals. The main issue for NHS bodies will be identifying those contracts where the body is providing insurance. Based on the experience of applying IFRS 16, it will take time to identify the examples of insurance contracts that NHS bodies may be party to. Engaging with non-finance colleagues who are involved in agreeing contracts takes time as everyone becomes familiar with the requirements of the standard.
This event is for senior NHS finance and healthcare professionals and will provide delegates with the know-how to begin applying value in practice.
This conference provides those responsible for financial reporting the opportunity to start to plan for the financial year-end.