More NewsBackbench firebrand targets financial reporting

Backbench firebrand targets financial reporting

Labour MP sets up new all-party finance group in Commons

Fiery backbench MP and CIPFA accountant David Taylor has started a new all
party parliamentary group that will focus on improving financial reporting and
transparency in the UK.

The north-west Leicestershire MP, a close confidante of Austin Mitchell, has
been a vociferous opponent of the private finance initiative and privatisation.

He has started the new APPG, which has the backing of ACCA, to develop best
practice in financial reporting and improve the transparency of accounts in the
public and private sector.

‘It can be very difficult for the public to assess the financial health of
government projects because of the spin all parties engage in while public trust
in corporate markets has been undermined,’ Taylor said.

The new group, which Taylor said would be officially launched shortly, will
monitor ‘government proposals and regulatory developments’ in an effort to
deliver financial reporting of the ‘highest quality’.

‘The APPG is will compliment the work done by the Financial Reporting Review
Panel and institutes,’ Taylor said.

For more on Taylor visit
http://news.bbc.co.uk/1/shared/mpdb/html/327.stm

For more on the work done by the FRRP go to
www.frc.org.uk/frrp/

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