HC Deb 09 June 1931 vol 253 cc834-5W
Sir J. FERGUSON

asked the President of the Board of Trade whether he will inform the various professional bodies controlling the auditing of accounts of companies operating under the Companies Act, 1929, that auditors, when certifying the balance sheets of holding companies, should present them in such a way as to provide the public with the protection afforded by consolidated balance sheets which disclose detailed information?

Mr. W. GRAHAM

The duties of companies and auditors in the matter of the form of balance sheets are laid down in the Companies Act, 1929, and I would refer the hon. Member in particular to Sections 125, 126 and 134. The period of Trade have, of course, no power to prescribe requirements which go beyond the statutory provisions.

Mr. MIDDLETON

asked the President of the Board of Trade what professional qualifications, if any, are necessary in the case of auditors appointed under Section 132 of the Companies Act, 1929?

Mr. W. R. SMITH

The Companies Act does not lay down any professional qualifications for auditors.

Back to