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Auditing Requirements

Volume 281: debated on Tuesday 16 July 1996

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To ask the President of the Board of Trade what plans he has for exempting small accountancy firms from the audit monitoring requirements introduced by the Companies Act 1989. [37382]

I have no such plans. I would, however, refer the hon. Gentleman to the conclusions of the review of the monitoring arrangements of the recognised supervisory bodies for auditors, conducted by Professor Peter Moizer in 1994. The recommendations of the review, a copy of which is available in the Library of the House, are being implemented by the bodies.