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1233878

registered interest
date	14/09/2020
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	Accountancy: 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 Callanan on 8 September (HL7080), whether they informed either House that an agreement would be needed with, and there would be an uncapped unspecified fee payable to, a company registered in Delaware for making instruments of UK law available to the public when the European Public Limited-Liability Company (Amendment etc.) (EU Exit) Regulations 2019 were before Parliament; if not, why not; and whether Ministers were aware of this fact; and if so, when they became aware.
tabling member printed	Baroness Bowles of Berkhamsted
uin	HL8051
answer	answer is ministerial correction date of answer 24/09/2020 answer text <p>The Government’s proposed agreement with the IFRS Foundation is a minor administrative matter. This is required to enable the UK’s adoption and endorsement of international accounting standards following the end of the Transition Period. All jurisdictions which use international accounting standards, including the EU, require such agreements with the IFRS Foundation.</p><p> </p><p>The proposed fee applicable is in line with HM Treasury guidance.</p> answering member printed Lord Callanan question first answered 24/09/2020 12:10:07 answering member 4336 label Biography information for Lord Callanan
tabling member	4562 label Biography information for Baroness Bowles of Berkhamsted

1233556

registered interest
date	10/09/2020
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	Construction: Standards
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government, further to reports of issues relating to construction and security at Liverpool Hope Hospital, Manchester Uptown, and the University of Sheffield, what plans they have to improve (1) the oversight, (2) the management, and (3) the quality of the outcome, of construction projects in the UK.
tabling member printed	Baroness Bennett of Manor Castle
uin	HL8012
answer	answer is ministerial correction date of answer 24/09/2020 answer text <p>The Government is committed to improving the productivity and performance of the construction sector. For this reason, we published the Construction Sector Deal in 2018, which aims to transform the productivity of the sector.</p><p> </p><p>One key element of the Sector Deal is £420 million of combined investment from industry and the Government in digital and offsite manufacturing technologies. Digital techniques deployed at all phases of design will deliver improved safety during the construction and operation of buildings, producing better, surer results. Offsite manufacturing technologies will help to minimise the wastage, inefficiencies, and delays that affect onsite construction.</p> answering member printed Lord Callanan question first answered 24/09/2020 11:22:03 answering member 4336 label Biography information for Lord Callanan
tabling member	4719 label Biography information for Baroness Bennett of Manor Castle

1233880

registered interest
date	14/09/2020
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	Accountancy: 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 Callanan on 6 August (HL7506), and in the light of the fact that the Financial Reporting Council (FRC) has indicated that a 'true and fair' override exists in both UK law and the standards of the International Accounting Standards Board (IASB), why the FRC's Accounting and Reporting Policy Team’s remit to follow and comment on the work of the IASB as it develops International Financial Reporting Standards prevents the FRC from issuing guidance on the application of a 'true and fair' view; and why this issue has not been resolved following the Business, Energy and Industrial Strategy Select Committee's report Future of Audit, published in April 2019.
tabling member printed	Baroness Bowles of Berkhamsted
uin	HL8053
answer	answer is ministerial correction date of answer 24/09/2020 answer text <p>The Financial Reporting Council (FRC) issued a paper on ‘true and fair’ accounting in June 2014.</p><p> </p><p>Sir Donald Brydon made recommendations on ‘true and fair’ in his report on the Quality and Effectiveness of Audit. The Government is currently considering the full package of reforms needed following the Business, Energy and Industrial Strategy Select Committee's report Future of Audit, Sir Donald Brydon’s report, Sir John Kingman’s Independent review of Financial Reporting Council and the Competition and Markets Authority’s Market study of the audit market. The Government will publish our proposals for reform in due course.</p> answering member printed Lord Callanan question first answered 24/09/2020 12:19:13 answering member 4336 label Biography information for Lord Callanan
tabling member	4562 label Biography information for Baroness Bowles of Berkhamsted

1233879

registered interest
date	14/09/2020
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	Accountancy: 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 Callanan on 8 September (HL7080), whether this example of Parliament not maintaining copyright over the publication of UK-adopted international accounting standards has a precedent; and if not, what other examples there are where they have granted the copyright of the publication of laws passed by the UK Parliament to (1) companies registered in Delaware, or (2) any other third party organisations.
tabling member printed	Baroness Bowles of Berkhamsted
uin	HL8052
answer	answer is ministerial correction date of answer 24/09/2020 answer text <p>We are required, by the International Accounting Standards and European Public Limited-Liability Company (Amendment etc.) (EU Exit) Regulations 2019, to publish a consolidated text of UK-adopted international accounting standards. Each jurisdiction which requires the use of international accounting standards has a licence agreement with the International Financial Reporting Standards Foundation, who develop the standards and own the copyright for them.</p><p> </p><p>An agreement between the Government and the International Financial Reporting Standards Foundation has not been finalised and, therefore, further detail may not be disclosed at this time. However, the agreement is a licence to allow the use of material and definitions, protected under copyright.</p> answering member printed Lord Callanan question first answered 24/09/2020 12:14:02 answering member 4336 label Biography information for Lord Callanan
tabling member	4562 label Biography information for Baroness Bowles of Berkhamsted