§ Mr. D. E. Thomasasked the Secretary of State for Wales if he intends to introduce the current cost accounting methods to each public body under his control; and to what extent these bodies' financial positions will be worsened by such a change of method in accounting.
§ Mr. Nicholas EdwardsPublic bodies under my control will produce current cost accounting information where appropriate in line with the Statement of Standard Accounting Practice No. 16 issued on 31 March 1980 by the accountancy bodies represented on the Consultative Committee of Accountancy Bodies. The extent to which the standard will be applied to each body involved is still under consideration. Current cost accounting will be adopted if thereby more realistic financial information about the body concerned would be provided. Presentation of financial information in726W current cost terms will neither worsen nor improve the financial position of the organisation involved.