Government abdicates responsibility for auditor accountability

Ministers rarely respond to Parliamentary questions in a meaningful way. The translation of the answer below is that the Minister dones not want to handle this and hopes that the issues would go away.

Mr. Mitchell: To ask the Secretary of State for Trade and Industry if he will require those licensed to act as auditors under the Companies Act 1989 to publish information about their affairs and the impact of their actions on stakeholders. [82007]

Dr. Howells: The Government have no plans to do so. Requiring registered auditors to publish information about their affairs would need primary legislation. The five bodies recognised to register and supervise auditors already submit reports to my Department every six months, covering the monitoring, inspection, supervision and disciplining of company auditors. Their annual reports, which are published by the bodies, are placed in the Library of the House.

Hansard, 28 April 1999, col. 198.