§ 35. Sir C. CAYZERasked the President of the Board of Trade whether he has considered the disclosures in recent cases before the courts and the inability of auditors to protect the public by the existing system of limited liability auditing of public concerns; and whether he will ask the committee to be set up to review the Companies Act, 1929, to consider a proposal to associate the three English and Scottish bodies of accountants and auditors with the Department of the Comptroller and Auditor-General, for the specific purpose of equipping them with independent power to audit limited liability and chartered company trading accounts and examine all records of transactions and the minutes of boards, independently of directorates, by a system similar to that operated by the Exchequer and Audit Department?
§ The PARLIAMENTARY SECRETARY to the BOARD of TRADE (Mr. Hore-Belisha)All cases which have thrown light on the working of the Companies 1102 Act, 1929, have been noted for review when the amendment of the Act is under consideration.