§ Mr. Marlowasked the Secretary of State of Trade when he intends to institute a logical system of company accounting which recognises the effects of inflation and allows for the fact that the wide variation in types of business and company activities is affected in different ways.
§ Mr. EyreAccounting standards are promulgated by the professional accounting bodies. The Government's policy towards the current exposure draft of a standard on current cost accounting is set out in the answer which my right. hon. Friend gave to the hon. Member for Tynemouth (Mr. Trotter) on 19 June 1979. The consultative process therein referred to is in progress.