Oral Answers to Questions

Kevin Hollinrake Excerpts

Tuesday 8th January 2019 Commons Chamber

[Greg Clark]

The hon. Lady is quite right that the issue is a matter of concern not just in her constituency, but in others. I will ensure that the meeting happens in the next two weeks.

[Kevin Hollinrake (Thirsk and Malton) (Con)]

T3. The Financial Reporting Council identified six areas that warrant further inquiry in PwC’s administration of Premier Motor Auctions, but delegated that inquiry to the Institute of Chartered Accountants in England and Wales—a trade body with limited powers. Will the Minister agree to meet me to ensure that this and any other insolvency practitioner issues are properly investigated?

[The Parliamentary Under-Secretary of State for Business, Energy and Industrial Strategy (Kelly Tolhurst)]

It is right that the FRC refers any concerns it has relating to the insolvency case to the ICAEW, which is a recognised professional body that regulates insolvency practitioners. In this case, I understand that the ICAEW has considered the issues put forward and is investigating a number of matters. I will happily meet my hon. Friend to discuss this issue again, as I already have. It is right that we investigate any concerns that British businesses have about the regulations.