Royal Bank of Scotland

(asked on 4th April 2022) - View Source

Question to the Department for Business, Energy and Industrial Strategy:

To ask Her Majesty's Government, further to the High Court judgement on the Royal Bank of Scotland prospectus case (2015 EWHC 3433 C), what assessment they have made of the judgment; whether the UK Endorsement Board consults equity analysts in endorsing accounting standards; and if so, why.


Answered by
Lord Callanan Portrait
Lord Callanan
Parliamentary Under Secretary of State (Department for Energy Security and Net Zero)
This question was answered on 19th April 2022

The UK Endorsement Board is required to consult individuals and organisations with an interest in the quality and availability of accounts, including users and preparers of accounts. Regulation 8 of the International Accounting Standards and European Public Limited-Liability Company (Amendment etc.) (EU Exit) Regulations 2019 sets out the requirements for consultation before adopting an international accounting standard for use in the UK.

The UK Endorsement Board does not exclusively seek views from equity analysts. The Board issues all its consultations on endorsement assessments publicly on its website, to ensure that all stakeholders have an opportunity to respond. All responses are given due consideration and are published on the Board’s website.

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