§ Mr. MorganTo ask the Secretary of State for Wales what guidelines he has given to the training and enterprise councils in Wales with respect to accounting conventions to be used in their annual report and accounts as regards(a) income and expenditure, (b) profit and loss account, (c) surplus and retained surplus, (d) gross profit and profit on 820W ordinary activities after taxation, (e) turnover, (f) income and (g) chief executive and managing director level appointments and places on the board of such appointees; and if he will make a statement.
§ Sir Wyn RobertsThe annual operating agreement between the Welsh Office and training and enterprise councils, which is available in the Library of the House, requires them to publish an audited statement of accounts. As private limited companies, the training and enterprise councils are subject to the audit requirements of the Companies Act 1985 as to the form and content of these accounts.
The standard operating agreement also sets out the procedure each training and enterprise council must follow in appointing a chief executive or managing director.
As private limited companies, the composition of the board of training and enterprise councils is governed by the memorandum and articles of association of each.