Auditors (Hansard, 25 November 1992)

§ Mr. Austin Mitchell
To ask the President of the Board of Trade, pursuant to his answer of 6 November,Official Report, column 439, what action he has taken against Ernst and Young for the audit failures identified by the inspectors.

§ Mr. Neil Hamilton
Copies of the reports have been forwarded to the Institute of Chartered Accountants in England and Wales.

§ Mr. Austin Mitchell
To ask the President of the Board of Trade whether he will seek to amend the Register of Auditors and Information about Audit Firms Regulation 1991 to require the recognised supervisory bodies to record criticisms by the DTI inspectors against the relevant firm's name.
721W

§ Mr. Neil Hamilton
No.

Total £ Fees £ Disbursements £

D. Donaldson, QC 328,000 285,000 43,000

I. G. Watt, FCA, CBE 1,435,000 1,185,000 250,000

Transcripts of trials (paid direct) 30,000 — —

Total cost of inspection to end October 1992 1,793,000 1,470,000 293,000

All figures include VAT. The fees paid to Mr. Watt include charges for support services provided by KPMG Peat Marwick.

	Total £	Fees £	Disbursements £
D. Donaldson, QC	328,000	285,000	43,000
I. G. Watt, FCA, CBE	1,435,000	1,185,000	250,000
Transcripts of trials (paid direct)	30,000	—	—
Total cost of inspection to end October 1992	1,793,000	1,470,000	293,000