§ Mr. Austin MitchellTo ask the Chancellor of the Exchequer what checks he performs on bank and insurance company accounts when they are filed at Companies House.
§ Mr. Neil HamiltonI have been asked to reply.
The Registrar of Companies informs me that accounts delivered to him for filing, including those of banks and insurance companies, are checked to ensure that they comprise the appropriate documents—in the majority of cases, profit and loss account, balance sheet, directors' report and auditors' report—are duly signed and cover the appropriate period. The accounts are then made available for public inspection.
Insurance companies also deliver accounts to the insurance division of my Department under the provisions of the Insurance Companies Act 1982. These are subjected to manual and computer checks covering correctness, consistency with previous accounts and solvency.
I am advised that the Bank of England carries out its own checks on copies of accounts of banking companies, which are sent direct to them by the companies concerned.