HC Deb 19 March 1928 vol 215 cc21-2

asked the President of the Board of Trade whether his attention has been called to the failure of auditors' certificates, as revealed at a recent company meeting, to prevent gross exaggeration in balance sheets of the figures purporting to represent stocks in hand; whether his attention has been called to a recent balance sheet of a shipping company in which ships and shipping investments and general investments are lumped together and valued at over £8,000,000; and whether, in view of the desirability of obtaining more adequate disclosure in balance sheets, he proposes, either by Amendment to the new Companies Bill or otherwise, to seek additional powers to meet such cases?


I have seen references in the Press to matters which the hon. Member probably has in mind. As he is aware, the Companies Bill is at present under consideration in Standing Committee, and any Amendments that may be moved will no doubt receive full consideration by the Committee.


Will the hon. Gentleman represent to his right hon. Friend the desirability of assisting any Amendment in this direction?


We are considering this and all other relevant matters on their merits.