Skip to main content

Financial Reporting Council

Question for Department for Business, Energy and Industrial Strategy

UIN HL5904, tabled on 27 February 2018

To ask Her Majesty's Government, further to the Written Answer by Lord Henley on 20 February 2018 (HL5469) and to the statement by the Minister for Trade on 29 March 2007 (Col 137WS), whether the Minister for Trade was informed of the intentions of the Financial Reporting Council (FRC) regarding its classification when making that statement; if not, why not; and when were ministers informed, if at all, that the FRC’s attempts to seek reclassification had been unsuccessful.

Answered on

9 March 2018

The ministerial statement on 29th March 2007 set out the changes to the Financial Reporting Council’s (FRC) governance. These were part of a process at the time aimed at securing the increased independence of the FRC from Government and its reclassification so that it was no longer a public body.

It is an established convention that Minsters of one administration cannot see the documents of a previous administration. I am therefore unable to provide the information requested by the noble Baroness.

Answered by

Department for Business, Energy and Industrial Strategy