LORDS

Further information and correspondence - Auditors: market concentration and their role

Professor Andrew Chambers is Specialist Adviser to the inquiry.

The Committee has now finished taking evidence, and agreed its report on Tuesday 15 March.  The Committee's report was published on Wednesday 30 March at 11.15am.

 

Auditors: Market concentration and their role - Report: Volume I

Auditors: Market concentration and their role - Evidence: Volume II

The Government's response was published on Thursday 16 June 2011

Government's Response

The Financial Reporting Council's response was published on Thursday 30 June 2011

FRC's Response

The FSA submitted a supplementary memorandum dated 2 September 2011

FSA supplementary evidence (PDF PDF 77 KB)

The Office of Fair Trading's announced its decision to refer the audit market to the Competition Commission on Friday 21 October 2011

OFT press release

The Chairman, Lord MacGregor of Pulham Market wrote to Norman Lamb MP, Minister for Employment Relations, Consumer and Postal Affairs, Department of Business, Innovation and Skills on 8 February 2012 raising questions about the use of International Financial Reporting Standards (IFRS) in audit in the United Kingdom.  This can be viewed using the link below.

Letter to Norman Lamb MP, 8 February 2012 (PDF PDF 239 KB)

Response from Norman Lamb MP, 29 February 2012 (PDF PDF 188 KB)

Letter from Mr Tim Bush to the Chairman, 7 February 2012 (PDF PDF 345 KB)

Evidence was taken from Mr Jonathan Faull, Director-General, Internal Market and Services, EU Commission, in a one-off session on 7 February 2012

Corrected Transcript - 7 February 2012 (PDF PDF 196 KB)

Please note that the Committee's Report "Auditors: Market concentration and their role", will be debated in Grand Committee in the Moses Room on Wednesday 14 March at 3.45pm, and can be viewed via parliamentlive.tv