Company Investigations (Hansard, 21 February 1990)

§ Mr. Austin Mitchell
To ask the Secretary of State for Trade and Industry what means are open to an investor to discover whether the auditors of his company have been criticised by his Department's inspectors or any disciplinary committee of the profession.

§ Mr. Redwood
Apart from writing direct to the auditors, or raising the matter at the company's general meeting, an investor may as appropriate consult my Department's investigations division or the professional accountancy body to which the firm of auditors belongs.

§ Mr. Austin Mitchell
To ask the Secretary of State for Trade and Industry whether he will take steps to ensure that sole practitioners and partnerships which are permitted to carry out statutory audits will be required to file annual accounts and reports with the appropriate supervisory body.

§ Mr. Redwood
Decisions on the information which company auditors should furnish to recognised supervisory bodies have yet to be made.

§ Mr. Austin Mitchell
To ask the Secretary of State for Trade and Industry if he will take steps to require companies to supplement their accounts-based financial statements with cash flow statements.

§ Mr. Redwood
No. Such supplementary information is best dealt with by means of accounting standards.

§ Mr. Austin Mitchell
To ask the Secretary of State for Trade and Industry whether any accountancy firm was criticised by his Department's inspectors in their report on Orbit Holdings.

§ Mr. Redwood
Yes. I regret that no reference was made to this report or the inspectors' report on Burnholme and Forder Limited and Brayhead Limited in the answer I gave to the hon. Member on 19 December 1989,Official Report, column 139.

Name of company Date of publication of report Name of accountants

Burnholme and Forder Limited 17 July 1979 Josolyne Layton Bennett and Co.

Brayhead Limited

Orbit Holdings Limited 23 December 1981 C. T. Moore and Co. Peat Marwick Mitchell and Co.

§ Mr. Austin Mitchell
To ask the Secretary of State for Trade and Industry whether he will take steps to require companies to publish profit forecasts.

§ Mr. Redwood
No.

§ Mr. Austin Mitchell
To ask the Secretary of State for Trade and Industry (1) if he will list the names and business connections of the 13 non-departmental inspectors appointed by him in 1988–89;
(2) if he will list the names and business connections of the non-departmental inspectors appointed by him in 1989–90.
790W

§ Mr. Redwood
The information is as follows:
1988–89

L. D. Ziman of Messrs. Nabarro Nathanson, Solicitors

W. M. Hoffman of Messrs. Baker Tilley and Co., Chartered Accountants

A. Evans QC

B. L. Worth of Messrs. Clark Whitehill, Chartered Accountants

Miss M. H. Arden QC

G. N. Lane of Messrs. Chantrey Vellacott, Chartered Accountants

G. W. Staple of Messrs. Clifford Chance, Solicitors

T. G. J. Tress of Messrs Hays Allen, Chartered Accountants

P. L. Heslop QC

R. P. G. Lewis of Messrs. Kidsons, Chartered Accountants

M. Crystal QC

D. L. Spence of Messrs Grant Thornton, Chartered Accountants

E. L. Lawson QC

D. Anton of Messrs. Deloitte Haskins and Sells, Chartered Accountants

1989–90

Miss H. Heilbron QC

M. D. Boohan of Messrs. Grant Thornton, Chartered Accountants

G. S. Moss QC

J. R. Venning of Messrs. Robson Rhodes, Chartered Accountants

R. M. Owen QC

P. D. Powell of Messrs. Moore Stephens, Chartered Accountants

C. J. Brougham QC

R. T. Turner of Messrs. Neville Russell, Chartered Accountants.

Name of company	Date of publication of report	Name of accountants
Burnholme and Forder Limited	17 July 1979	Josolyne Layton Bennett and Co.
Brayhead Limited
Orbit Holdings Limited	23 December 1981	C. T. Moore and Co. Peat Marwick Mitchell and Co.