§ Mr. Tim Smithasked the Secretary of State for Trade if he will make a statement on his policy on the production of accounting standards; and, in particular, which of the following systems he 228W prefers (a) the present system of production and enforcement on the part of the accountancy bodies; (b) a mixed system of production on the part of the accountancy bodies combined with enforcement through amended companies' legislation, and (c) a system of production and 229W enforcement by means of companies' legislation.
§ Mr. Clinton DavisThe present policy will continue and will be reviewed as necessary in the light of the Accounting Standards Committee's current review of its own constitution and functions.