Company Accounts

(asked on 13th June 2022) - View Source

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

To ask Her Majesty's Government, further to the Written Answer by Lord Callanan on 1 June (HL473), what assessment they made of the duties of auditors set out the decision in Caparo Vs Dickman when providing that answer; and in particular, the part of the judgment which states "It is the auditors' function to ensure, so far as possible, that the financial information as to the company's affairs prepared by the directors accurately reflects the company's position in order, first, to protect the company itself from the consequences of undetected errors or, possibly, wrongdoing (by, for instance, declaring dividends out of capital)."


Answered by
Lord Callanan Portrait
Lord Callanan
Parliamentary Under Secretary of State (Department for Energy Security and Net Zero)
This question was answered on 21st June 2022

The Government did not make an assessment in providing the Written Answer on 1 June 2022 to Question HL473. The interpretation of court judgements is not a matter for the Government, but for relevant regulators and the courts.

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