§ Mr. Austin MitchellTo ask the Secretary of State for Trade and Industry whether he will propose legislation under which the auditing firms criticised by his Department's inspectors will be required to file a statement with the regulators stating that they have read and understood the criticisms made of their practices.
§ Mr. RedwoodNo.
§ Mr. Austin MitchellTo ask the Secretary of State for Trade and Industry whether he will propose legislation under which banks in their annual corporate reports will be required to publish the number of times their auditors have acted as receivers for any of the bank's clients.
§ Mr. RedwoodI have no plans to do so.
§ Mr. Austin MitchellTo ask the Secretary of State for Trade and Industry whether he will indicate the dates on which his representative has attended the meetings of the Auditing Practices Board.
§ Mr. RedwoodThe first meeting of the Auditing Practices Board is due to take place on 3 July.
§ Mr. Austin MitchellTo ask the Secretary of State for Trade and Industry what steps his representative on the Auditing Standards Board has taken to bring about a reduction in the influence of the six largest auditing firms in setting auditing standards.
§ Mr. RedwoodMy Department has no role in the selection of voting members of the Auditing Practices Board.