House of Lords Business
Show full summary

Baroness Bowles of Berkhamsted to ask Her Majesty's Government why their consultation document Insolvency and Corporate Governance, published on 20 March following the collapse of Carillion, refers to guidance from the Institute of Chartered Accountants in England and Wales (ICAEW) instead of guidance from the Financial Reporting Council (FRC); in particular, why that document states that “the link between the profit in a company’s financial statements and any reserves available for distributions is elaborated in guidance issued by the ICAEW”; and what assessment they have made of the respective roles of the ICAEW and the FRC in issuing such guidance.  HL6619

Question HL6619: tabled on 26 March 2018 and due for answer by 11 April 2018

This type of business sits within the Questions & Statements category.

This question has been answered by the relevant Government Department.

Question text

Baroness Bowles of Berkhamsted to ask Her Majesty's Government why their consultation document Insolvency and Corporate Governance, published on 20 March following the collapse of Carillion, refers to guidance from the Institute of Chartered Accountants in England and Wales (ICAEW) instead of guidance from the Financial Reporting Council (FRC); in particular, why that document states that “the link between the profit in a company’s financial statements and any reserves available for distributions is elaborated in guidance issued by the ICAEW”; and what assessment they have made of the respective roles of the ICAEW and the FRC in issuing such guidance.  HL6619
Legend for business item text
† Item that is new or altered.
* Item is an oral question.
Numbers starting HL are unique identifiers for written questions, Bills or papers.

Date Answered

Wednesday 11 April 2018

Member's Registered Interests

There are no interests to show.

Main Member

Baroness Bowles of Berkhamsted
Liberal Democrat
Life peer