The Government has already rejected the suggestion at a meeting of a standing committee debating the Bill, but Andrew Smith appearing before the Commons Public Accounts Committee tonight, is likely to be pressed on the issue and asked to explain why a new body could not be brought into being.
Such a body would produce guidance which mirror standards issued by the Accounting Standards Board already employed in the private sector.
A source close to the committee said only by setting up an independent body could the Bill be effective.
The committee is also understood to want to ask Smith how the Comptroller and Auditor General of the National Audit Office can be guaranteed access to all public bodies.
A recent statement from the PAC revealed that more than £3b of government expenditure was not covered by the Bill.
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