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Banks: Accountancy

Treasury written question – answered on 24th February 2009.

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Photo of Austin Mitchell Austin Mitchell Labour, Great Grimsby

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.

Photo of Ian Pearson Ian Pearson Parliamentary Under-Secretary (Economic and Business), Department for Business, Enterprise & Regulatory Reform, Economic Secretary (Economic and Business), HM Treasury

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.

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