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Banks: Accountancy

Volume 488: debated on Wednesday 25 February 2009

To ask the Chancellor of the Exchequer on what dates the auditors of banks regulated by the Financial Services Authority who issued a qualified audit report on the 2007-08 accounts of a bank informed his Department of their plans to issue such reports. (256999)

The auditors of banks that are regulated by the FSA have a duty to report to the FSA if they intend to issue a qualified audit report. The auditors do not have a duty to report such matters to HM Treasury.