DIRECTION BY THE SCOTTISH MINISTERS
in accordance with section
19(4) of the Public Finance and Accountability (Scotland) Act
1. The statement of accounts for the
financial year ended 31 March 2007 and subsequent years shall
comply with the accounting principles and disclosure requirements
of the edition of the Government Financial Reporting Manual (FReM) which is in force for the year for which the statement of
accounts are prepared.
2. The accounts shall be prepared so as to give a true and fair
view of the income and expenditure, recognised gains and losses,
and cash flows for the financial year, and of the state of affairs
as at the end of the financial year.
3. This direction shall be reproduced as an appendix to the
statement of accounts.
Signed by the authority of the Scottish Ministers
Dated 17 January 2006