§ 34. Mr. WigleyTo ask the Chairman of the Public Accounts Commission what representations he has received on the adequacy of resources available to the NAO for investigating not-for-profit companies which have been set up at arms length from Central or Local Government to deliver services to the public and which depend in part or in whole on public finance. [141907]
§ Mr. SheldonThe Public Accounts Commission last met on 18 July to consider and approve the National Audit Office's Corporate Plan for 2001–02 and beyond. This covered a bid for resources for the Office to undertake its financial audit and value for money duties. These resources include a small provision for the investigation of not-for-profit companies where the C&AG has secured access to—but not the audit of—records on a case by case basis. However, under existing companies legislation the20W C&AG is not permitted to undertake the financial audit of limited companies, nor does he have statutory access rights to limited companies. The Commission have advocated in their submission to the Sharman Review of Central Government audit that the C&AG should have full rights of audit and access to such companies.