HC Deb 21 March 1967 vol 743 cc251-2W
Mr. Ford

asked the President of the Board of Trade which bodies have been recognised by his Department for the purposes of Section 161(1)(a) of the Companies Act, 1948; and what considerations were taken into account when so doing.

Mr. Darling

The bodies for the time being recognised under Section 161(1)(a) of the Companies Act, 1948, are:

  • The Institute of Chartered Accountants in England and Wales.
  • The Institute of Chartered Accountants of Scotland.
  • The Association of Certified and Corporate Accountants.
  • The Institute of Chartered Accountants in Ireland.

The main consideration taken into account was a statement by the Cohen Committee on Company Law to the effect that the appointment by the Treasury of members of these bodies as "Public Auditors" for the purposes of the Industrial and Provident Societies Act, 1893, and the Industrial Assurance Act, 1923, indicated the qualifications which an auditor of a public company should have.

Mr. Ford

asked the President of the Board of Trade which bodies have applied unsuccessfuly for recognition by his Department for the purposes of Section 161(1)(a) of the Companies Act, 1948; and what were the date of such applications, the date of the final reply by his Department and the reasons for non-recognition.

Mr. Darling

It is not the practice of the Board of Trade to disclose information about unsuccessful applications of this kind.