Subject Predicate Object
dgGE1TMM
a
Resource
Answer
Written answer
answer has question
0oBZFLgR
answer has answering person
Elizabeth Mary Truss
answer text
<p>The Government has no plans to legislate in these areas.</p><p> </p><p>a) As outlined in the Dear Accounting Officer letter of 17 January 2008 it is the expectation of HMT that the Comptroller and Auditor General is appointed the auditor for Government-controlled Companies. If they do not appoint the C&amp;AG as auditor, departments will need to be able to account for their reasons for preferring another auditor.</p><p><a href="http://webarchive.nationalarchives.gov.uk/20080727043654/http:/www.hm-treasury.gov.uk/media/8/1/dao0108.pdf" target="_blank">http://webarchive.nationalarchives.gov.uk/20080727043654/http:/www.hm-treasury.gov.uk/media/8/1/dao0108.pdf</a></p><p> </p><p>b) The accounts of non-profit making companies included within the Government Resources and Accounts Act 2000 (Audit of non-profit making companies) Order 2009 (SI 2009/476) and as amended by subsequent Orders must be examined and certified by the Comptroller and Audit General. Companies must comply with applicable requirements in the Companies Act 2006 and follow the financial reporting principles of the HM Treasury Financial Reporting Manual (except for public corporations that are not trading funds). Companies that have charitable status should comply with applicable charities legislation and where relevant, the Statement of Recommended Practice (SORP) Accounting for Charities, issued by the Charity Commission. The HM Treasury Financial Reporting Manual is updated on a yearly basis in December by HM Treasury and the Companies Act 2006 is updated on an on-going basis by the Department for Business, Energy and Industrial Strategy.</p><p> </p><p>c) Public spending is scrutinised through the Committee system and further examined by the scrutiny of Parliament as a whole. In addition the routine publication of Annual Reports and Accounts as well as numerous other transparency publications facilitate scrutiny by the public and the media. The published Annual Reports and Accounts must comply with applicable requirements in the Companies Act 2006 and follow the financial reporting principles of the HM Treasury Financial Reporting Manual (except for public corporations that are not trading funds). HM Treasury are currently undertaking a review of the Annual Reports and Accounts including looking at the recommendations set out in the ‘Accounting for democracy: making sure Parliament, the people and ministers know how and why public money is spent’ report written by the Public Administration and Constitutional Affairs Committee.</p>
answer given date
answer has answering body
HM Treasury
written answer has answering body
HM Treasury
HM Treasury
answering body has written answer
dgGE1TMM
answering body has answer
dgGE1TMM
0oBZFLgR
question has answer
dgGE1TMM
Elizabeth Mary Truss
answering person has answer
dgGE1TMM