Capital Assets

Public Accounts Committee written question – answered at on 13 December 2001.

Alert me about debates like this

Photo of Matthew Taylor Matthew Taylor Liberal Democrat Spokesperson (Treasury)

To ask the Chancellor of the Exchequer, pursuant to his answer of 20 November 2001, Official Report, column 270W, on capital assets, what guidelines the (a) National Audit Office and (b) Treasury issue on how to classify who bears the risks and rewards associated with an asset.

Photo of Alan Williams Alan Williams Labour, Swansea West

I have been asked to reply in so far as the hon. Member's question refers to the National Audit Office.

As financial auditors, the National Audit Office do not themselves issue guidelines on how to classify who bears the risks and rewards associated with an asset. This is the job of HM Treasury, as described in the Chief Secretary's written answer of 29 November 2001, Hansard, column 1122W.

The National Audit Office as part of its financial audit work would consider whether, for the purposes of the published annual accounts of the body in question, the body's assessment with regard to who bears the risk and rewards associated with an asset has been properly carried out in compliance with the standards and guidance set down by the Treasury.

Does this answer the above question?

Yes1 person thinks so

No0 people think not

Would you like to ask a question like this yourself? Use our Freedom of Information site.