The requirement in section 3(3) of the Local Audit and Accountability Act 201424 for a relevant authority to prepare a statement of accounts for each financial year is modified in the case of the Durham, Gateshead, South Tyneside and Sunderland Combined Authority and the Newcastle Upon Tyne, North Tyneside and Northumberland Combined Authority as set out in paragraph (2).

In relation to the financial year beginning with 1st April 2023, the Combined Authority is to prepare a statement of accounts for each of the authorities mentioned in paragraph (1) as though that financial year were to end with 7th May 2024.