HC Deb 29 October 1990 vol 178 c380W
Mr. Austin Mitchell

To ask the Secretary of State for Trade and Industry whether he will exercise his powers under part II of the Companies Act 1989 to create an independent statutory body to regulate auditing.

Mr. Redwood

As the Government made clear during the passage of the Companies Bill, we have no present intention to do so.

Mr. Austin Mitchell

To ask the Secretary of State for Trade and Industry if he will create a body equivalent to OFGAS and OFTEL to regulate auditing.

Mr. Redwood

No. Under section 46 of the Companies Act 1989 the Secretary of State may establish a body corporate to exercise his functions under part II of that Act. However, we have no present intention of exercising this power.