Oral Answers to Questions — Approved Societies (Audits).

– in the House of Commons on 9th March 1922.

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Photo of Mr Rhys Davies Mr Rhys Davies , Westhoughton

43.

asked the Chancellor of the Exchequer whether it is proposed to adopt the suggestion contained in the Geddes Committee Report that the cost of auditing the accounts of approved societies should be borne out of the administrative expenses of those societies?

Mr. YOUNG:

In view of the very heavy burden which will have to be transferred from the Exchequer to the funds of approved societies in order to secure the saving recommended in the First Report of the Committee on National Expenditure, I am afraid it will not be practicable to recover the cost of audit from insurance funds as suggested in the Third Report of the Committee.