Public Limited Companies (Financial Regulation)

Part of the debate – in Westminster Hall at 4:48 pm on 13th March 2003.

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Photo of Norman Lamb Norman Lamb Shadow Spokesperson (Treasury), Liberal Democrat Spokesperson (Treasury) 4:48 pm, 13th March 2003

Will the Minister respond specifically to the Treasury Committee's recommendation relating to a compulsory re-tendering exercise—not a requirement to change audit firms, but to examine the possibility? The Minister said that a change every five years for the lead audit partner would be required, but what about the others? I note that the final report of the co-ordinating group refers to change for other key audit partners every seven years. Is that still part of the Government's recommendations?