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1002217

	registered interest
	date	05/11/2018
	answering body	Department for Business, Energy and Industrial Strategy
	answering dept id	201
	answering dept short name	Business, Energy and Industrial Strategy
	answering dept sort name	Business, Energy and Industrial Strategy
	hansard heading	Biotechnology
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government when the bio-economy sector deal will be published.
	tabling member printed	Baroness Featherstone
	uin	HL11238
	answer	answer is ministerial correction date of answer 19/11/2018 answer text <p>Several sectors have expressed an interest in a Sector Deal. We intend to take forward some further Deals that best meet expectations set out in the White Paper in due course.</p> answering member printed Lord Henley question first answered 19/11/2018 17:54:23 answering member 2616 label Biography information for Lord Henley
	tabling member	1531 label Biography information for Baroness Featherstone

1002259

	registered interest
	date	05/11/2018
	answering body	Department for Business, Energy and Industrial Strategy
	answering dept id	201
	answering dept short name	Business, Energy and Industrial Strategy
	answering dept sort name	Business, Energy and Industrial Strategy
	hansard heading	Stephen Haddrill
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government whether they were consulted by the Financial Reporting Council on the termination of the employment of Stephen Haddrill and on the financial terms involved.
	tabling member printed	Lord Myners
	uin	HL11280
	answer	answer is ministerial correction date of answer 19/11/2018 answer text <p>I can confirm that the Department for Business, Energy and Industrial Strategy was consulted prior to Stephen Haddrill’s resignation.</p><p> </p><p>Mr Haddrill will serve his one-year notice period to allow for an orderly succession. There are no other financial terms involved.</p><p> </p><p>We will work together with the Financial Reporting Council to appoint their new Chief Executive following the conclusion of the independent review of the Financial Reporting Council.</p> answering member printed Lord Henley question first answered 19/11/2018 17:54:14 answering member 2616 label Biography information for Lord Henley
	tabling member	3869 label Biography information for Lord Myners

1005579

	registered interest
	date	12/11/2018
	answering body	Department for Business, Energy and Industrial Strategy
	answering dept id	201
	answering dept short name	Business, Energy and Industrial Strategy
	answering dept sort name	Business, Energy and Industrial Strategy
	hansard heading	Post Office
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government what criteria they use when considering whether to give permission under Article 11.1(O) of the Articles of Association of Post Office Limited to incur a commitment or liability of more than £50 million.
	tabling member printed	Lord Arbuthnot of Edrom
	uin	HL11350
	answer	answer is ministerial correction date of answer 19/11/2018 answer text <p>As the sole Shareholder, the Government expects the Post Office Limited to ensure value for money principles in its use of resources at all times. Requests for consent are considered in the light of these principles.</p> answering member printed Lord Henley question first answered 19/11/2018 15:43:27 answering member 2616 label Biography information for Lord Henley
	tabling member	56 label Biography information for Lord Arbuthnot of Edrom

1005598

	registered interest
	date	12/11/2018
	answering body	Department for Business, Energy and Industrial Strategy
	answering dept id	201
	answering dept short name	Business, Energy and Industrial Strategy
	answering dept sort name	Business, Energy and Industrial Strategy
	hansard heading	Financial Reporting Council: Accounting Officers
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government, further to the Written Answer by Lord Henley on 24 October (HL10985), why Mr Haddrill was appointed responsible accounting officer on 1 August 2017 in view of the fact that he had been Chief Executive of the Financial Reporting Council (FRC) since 2009, and the FRC at the date of his appointment was designated a public body under the Government Resources and Accounts Act 2000; whether there was a period during which the FRC operated without a responsible accounting officer; if so, where accountability lay during that period; whether the FRC informed the Public Accounts Committee that it operated without a responsible accounting officer, for how long, and under whose authority; and if not, why not.
	tabling member printed	Baroness Bowles of Berkhamsted
	uin	HL11369
	answer	answer is ministerial correction date of answer 19/11/2018 answer text <p>The Office for National Statistics concluded in December 2014 that the Financial Reporting Council (FRC) was a public body within central government. The Department for Business Innovation and Skills (as it then was) examined whether there was scope for further review. The Department for Business, Energy and Industrial Strategy concluded in 2017 that they should work with the FRC on the formal application of all relevant guidelines. Prior to that date, the Department communicated the requirements it imposed on the FRC as a public body through the FRC’s Chief Executive Officer.</p> answering member printed Lord Henley question first answered 19/11/2018 15:41:50 answering member 2616 label Biography information for Lord Henley
	tabling member	4562 label Biography information for Baroness Bowles of Berkhamsted

1005599

	registered interest
	date	12/11/2018
	answering body	Department for Business, Energy and Industrial Strategy
	answering dept id	201
	answering dept short name	Business, Energy and Industrial Strategy
	answering dept sort name	Business, Energy and Industrial Strategy
	hansard heading	Financial Reporting Council: Audit
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government whether the Financial Reporting Council (FRC)’s Practice Note 10 Audit of financial statements of public sector bodies in the UK as applicable to public bodies should have been applied to the FRC's accounts for the year ended 31 March, given that the FRC was itself a public body for all that period.
	tabling member printed	Baroness Bowles of Berkhamsted
	uin	HL11370
	answer	answer is ministerial correction date of answer 22/11/2018 answer text <p>The Financial Reporting Council (FRC)’s Practice Notes contain auditing rather than accounting guidance, so are not directly applicable to the preparation of the FRC’s accounts.</p><p> </p><p>Practice Notes contain best practice guidance to help auditors apply auditing standards in the context of particular kinds of engagement (including public sector bodies, charities and banks). They do not contain additional requirements to those in auditing standards (ISAs (UK)), Practice Note 10 provides relevant context and application guidance for any audit engagement for a public sector body, including the FRC.</p><p> </p><p>The audit of the FRC is carried out in accordance with auditing and ethical standards used by all auditors in the UK.</p><p> </p><p>Practice Note 10 provides guidance on regularity. Regularity is the concept that transactions recorded in the financial statements of an audited business must be in accordance with the relevant framework. These frameworks are specific to the audited business and set out the requirements their transactions must comply with.</p><p> </p><p>The FRC auditor is not required to give a separate opinion on regularity because the FRC is required to prepare its accounts in accordance with Companies Act requirements and uses FRS 102.</p> answering member printed Lord Henley question first answered 22/11/2018 16:32:45 answering member 2616 label Biography information for Lord Henley
	tabling member	4562 label Biography information for Baroness Bowles of Berkhamsted

1005627

	registered interest
	date	12/11/2018
	answering body	Department for Business, Energy and Industrial Strategy
	answering dept id	201
	answering dept short name	Business, Energy and Industrial Strategy
	answering dept sort name	Business, Energy and Industrial Strategy
	hansard heading	Companies: Codes of Practice
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government what proportion of companies they estimate will (1) appoint a director appointed from the workforce, (2) establish a formal workforce advisory panel, (3) appoint a designated non-executive director, and(4) do none of these, as a result of the UK Corporate Governance Code of July 2018.
	tabling member printed	Lord Mendelsohn
	uin	HL11398
	answer	answer is ministerial correction date of answer 19/11/2018 answer text <p>The Government did not set out a preferred option and has not made an estimate of how it anticipates companies will respond. It is for companies to decide which option, or combination of options, will work best in their particular circumstances.</p><p> </p><p>The Government is aware that boards are already giving careful consideration to their employee engagement arrangements and intends to monitor closely how companies respond to the new provisions.</p><p> </p> answering member printed Lord Henley question first answered 19/11/2018 15:42:23 answering member 2616 label Biography information for Lord Henley
	tabling member	4286 label Biography information for Lord Mendelsohn

1005628

	registered interest
	date	12/11/2018
	answering body	Department for Business, Energy and Industrial Strategy
	answering dept id	201
	answering dept short name	Business, Energy and Industrial Strategy
	answering dept sort name	Business, Energy and Industrial Strategy
	hansard heading	Companies: Codes of Practice
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government by what process and criteria they will evaluate companies’ explanations for non-compliance with the revised UK Corporate Governance Code of July 2018; and what steps they plan to take when they deem explanations for non-compliances not to be satisfactory.
	tabling member printed	Lord Mendelsohn
	uin	HL11399
	answer	answer is ministerial correction date of answer 19/11/2018 answer text <p>The UK Corporate Governance Code is the responsibility of the Financial Reporting Council. It is the responsibility of investors to assess the quality of reporting and engage with companies accordingly.</p><p> </p><p>The 2018 Code is a substantial revision and comes into force for accounting periods beginning on or after 1 January 2019. Reporting against the revised Code will therefore not be required until 2020 when companies publish their annual reports and accounts for the preceding year. However, the FRC intends to evaluate the extent of early adoption of the new Code in terms of reporting on the application of its Principles and compliance or otherwise with its Provisions and to publish its findings at the end of 2019.</p><p> </p><p>The FRC is the subject of an independent review being led by Sir John Kingman which is expected to report before the end of the year.</p><p> </p> answering member printed Lord Henley question first answered 19/11/2018 15:43:10 answering member 2616 label Biography information for Lord Henley
	tabling member	4286 label Biography information for Lord Mendelsohn

1007907

	registered interest
	date	15/11/2018
	answering body	Department for Business, Energy and Industrial Strategy
	answering dept id	201
	answering dept short name	Business, Energy and Industrial Strategy
	answering dept sort name	Business, Energy and Industrial Strategy
	hansard heading	Company Accounts: Standards
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government what is the function and remit of the BEIS External Stakeholder Group.
	tabling member printed	Baroness Bowles of Berkhamsted
	uin	HL11517
	answer	answer is ministerial correction date of answer 22/11/2018 answer text <p>The function and remit of the BEIS External Stakeholder Group was to provide advice and share industry insight with BEIS officials to facilitate the preparation of legislation on the UK’s company reporting framework in preparation of the UK’s departure from the EU. The stakeholder group was established in April 2018 to support the development of legislation needed in the unlikely event of the UK leaving the EU without a future agreement.</p> answering member printed Lord Henley question first answered 22/11/2018 16:42:19 answering member 2616 label Biography information for Lord Henley
	tabling member	4562 label Biography information for Baroness Bowles of Berkhamsted

1007908

	registered interest
	date	15/11/2018
	answering body	Department for Business, Energy and Industrial Strategy
	answering dept id	201
	answering dept short name	Business, Energy and Industrial Strategy
	answering dept sort name	Business, Energy and Industrial Strategy
	hansard heading	Company Accounts: Standards
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government, further to the Written Answer by Lord Henley on 24 October (HL10986), who are the current members of the BEIS External Stakeholder Group dealing with accounting law relating to International Accounting Standards; who each member (1) currently works for, (2) represents as stakeholder, and (3) was nominated for appointment to the group by; and whether any members (a) are currently, and (b) have been members of PwC’s Corporate Reporting Users Forum.
	tabling member printed	Baroness Bowles of Berkhamsted
	uin	HL11518
	answer	answer is ministerial correction date of answer 22/11/2018 answer text <p>The Department for Business, Energy and Industrial Strategy (BEIS) External Stakeholder Group brought together the expertise and experience of those with an interest in the quality of accounts prepared by UK companies. Its membership was intended to be</p><p>diverse to ensure a balance of views of those working as preparers of accounts, company advisers, industry representatives and users of accounts. Membership of the Group was in a personal capacity, acknowledging the individuals’ expertise in this area.</p><p> </p><p>The group met 6 times during the course of 2018 and is not expected to meet again.</p><p>The members of the group were:</p><p><strong> </strong></p><table><tbody><tr><td><p><strong>Name</strong></p></td><td><p><strong>Organisation</strong></p></td></tr><tr><td><p>Chris Buckley</p></td><td><p>GlaxoSmithKline</p></td></tr><tr><td><p>Andrew Carpenter</p></td><td><p>Association of British Insurers</p></td></tr><tr><td><p>Jonathan Compton</p></td><td><p>BDO</p></td></tr><tr><td><p>Tony Clifford</p></td><td><p>EY</p></td></tr><tr><td><p>Jake Green</p></td><td><p>Grant Thornton UK</p></td></tr><tr><td><p>Peter Hogarth</p></td><td><p>PriceWaterhouseCoopers</p></td></tr><tr><td><p>Andrew Jolly</p></td><td><p>Slaughter and May</p></td></tr><tr><td><p>Richard Martin</p></td><td><p>Association of Chartered Certified Accountants</p></td></tr><tr><td><p>Liz Murrall</p></td><td><p>Investment Association</p></td></tr><tr><td><p>Veronica Poole</p></td><td><p>Deloitte</p></td></tr><tr><td><p>David Pudge</p></td><td><p>Clifford Chance</p></td></tr><tr><td><p>Danielle Stewart OBE</p></td><td><p>RSM UK</p></td></tr><tr><td><p>Nigel Sleigh-Johnson</p></td><td><p>Institute of Chartered Accountants in England and Wales</p></td></tr><tr><td><p>Pamela Taylor</p></td><td><p>KPMG</p></td></tr><tr><td><p>David Wood</p></td><td><p>Institute of Chartered Accountants of Scotland</p></td></tr><tr><td><p>Jed Wrigley</p></td><td><p>Investment Association</p></td></tr><tr><td><p>Andy Young</p></td><td><p>Liverpool Victoria</p></td></tr></tbody></table> answering member printed Lord Henley grouped question UIN HL11519 question first answered 22/11/2018 16:41:40 answering member 2616 label Biography information for Lord Henley
	tabling member	4562 label Biography information for Baroness Bowles of Berkhamsted

1007909

	registered interest
	date	15/11/2018
	answering body	Department for Business, Energy and Industrial Strategy
	answering dept id	201
	answering dept short name	Business, Energy and Industrial Strategy
	answering dept sort name	Business, Energy and Industrial Strategy
	hansard heading	Company Accounts: Standards
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government, further to the Written Answer by Lord Henley on 24 October (HL10986), who has been a member of the BEIS External Stakeholder Group dealing with accounting law relating to International Accounting Standards; who each member (1) worked for at the time they were members of the group, (2) represented as stakeholder, and (3) was nominated for appointment to the group by; and whether any members were also members of PwC’s Corporate Reporting Users Forum.
	tabling member printed	Baroness Bowles of Berkhamsted
	uin	HL11519
	answer	answer is ministerial correction date of answer 22/11/2018 answer text <p>The Department for Business, Energy and Industrial Strategy (BEIS) External Stakeholder Group brought together the expertise and experience of those with an interest in the quality of accounts prepared by UK companies. Its membership was intended to be</p><p>diverse to ensure a balance of views of those working as preparers of accounts, company advisers, industry representatives and users of accounts. Membership of the Group was in a personal capacity, acknowledging the individuals’ expertise in this area.</p><p> </p><p>The group met 6 times during the course of 2018 and is not expected to meet again.</p><p>The members of the group were:</p><p><strong> </strong></p><table><tbody><tr><td><p><strong>Name</strong></p></td><td><p><strong>Organisation</strong></p></td></tr><tr><td><p>Chris Buckley</p></td><td><p>GlaxoSmithKline</p></td></tr><tr><td><p>Andrew Carpenter</p></td><td><p>Association of British Insurers</p></td></tr><tr><td><p>Jonathan Compton</p></td><td><p>BDO</p></td></tr><tr><td><p>Tony Clifford</p></td><td><p>EY</p></td></tr><tr><td><p>Jake Green</p></td><td><p>Grant Thornton UK</p></td></tr><tr><td><p>Peter Hogarth</p></td><td><p>PriceWaterhouseCoopers</p></td></tr><tr><td><p>Andrew Jolly</p></td><td><p>Slaughter and May</p></td></tr><tr><td><p>Richard Martin</p></td><td><p>Association of Chartered Certified Accountants</p></td></tr><tr><td><p>Liz Murrall</p></td><td><p>Investment Association</p></td></tr><tr><td><p>Veronica Poole</p></td><td><p>Deloitte</p></td></tr><tr><td><p>David Pudge</p></td><td><p>Clifford Chance</p></td></tr><tr><td><p>Danielle Stewart OBE</p></td><td><p>RSM UK</p></td></tr><tr><td><p>Nigel Sleigh-Johnson</p></td><td><p>Institute of Chartered Accountants in England and Wales</p></td></tr><tr><td><p>Pamela Taylor</p></td><td><p>KPMG</p></td></tr><tr><td><p>David Wood</p></td><td><p>Institute of Chartered Accountants of Scotland</p></td></tr><tr><td><p>Jed Wrigley</p></td><td><p>Investment Association</p></td></tr><tr><td><p>Andy Young</p></td><td><p>Liverpool Victoria</p></td></tr></tbody></table> answering member printed Lord Henley grouped question UIN HL11518 question first answered 22/11/2018 16:41:40 answering member 2616 label Biography information for Lord Henley
	tabling member	4562 label Biography information for Baroness Bowles of Berkhamsted