§ Mr. GRANTasked the President of the Board of Trade whether the Board of Trade insist upon the appointment of separate auditors to audit the accounts of electric lighting companies (pursuant to the Electric Light Act), and refuse to appoint as their auditors under the Act the auditors appointed by the companies; and whether he is aware that such double audits entail double expense upon the companies concerned, who in many cases would be prepared to appoint the auditors selected by the Board of Trade?
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Mr. BUXTONThe answer to the first part of the hon. Member's question is in the affirmative. I am aware that the double audits entail some extra—though not necessarily double—expense on the companies concerned, but in view of the special objects of the Government audit I consider that it should be conducted by an auditor who is quite independent of the shareholders.