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Chamber and committees

Official Report: search what was said in Parliament

The Official Report is a written record of public meetings of the Parliament and committees.  

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Dates of parliamentary sessions
  1. Session 1: 12 May 1999 to 31 March 2003
  2. Session 2: 7 May 2003 to 2 April 2007
  3. Session 3: 9 May 2007 to 22 March 2011
  4. Session 4: 11 May 2011 to 23 March 2016
  5. Session 5: 12 May 2016 to 4 May 2021
  6. Current session: 13 May 2021 to 15 September 2025
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Displaying 2603 contributions

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Public Audit Committee [Draft]

“The 2022/23 audit of Lews Castle College”

Meeting date: 3 September 2025

Colin Beattie

The report sets out that the college and the auditor agreed that the investment in CSL should be accounted for using the equity method, in accordance with financial reporting standard 102. Could you explain in a bit more detail what that means?

Public Audit Committee [Draft]

“The 2022/23 audit of Lews Castle College”

Meeting date: 3 September 2025

Colin Beattie

I understand that. What would the implications for the college have been if its profit, surplus or assets had been inflated? Would there have been any positive or negative implications?

Public Audit Committee [Draft]

“The 2022/23 audit of Lews Castle College”

Meeting date: 3 September 2025

Colin Beattie

Assuming that there are no issues with governance and so on in the college, I presume that we can assume that the board has taken a judgment on the matter. I guess that the question that I am trying to ask is this: were there any governance issues with the board that might point to a skewed approach?

Public Audit Committee [Draft]

“The 2022/23 audit of Lews Castle College”

Meeting date: 3 September 2025

Colin Beattie

Who in the college would be responsible for ensuring compliance with FRS 102?

Public Audit Committee [Draft]

“The 2022/23 audit of Lews Castle College”

Meeting date: 3 September 2025

Colin Beattie

I have one last question. Are you aware of whether the college took any external advice in reaching its position? Did it refer, for example, to the SFC or any outside body?

Public Audit Committee [Draft]

“The 2022/23 audit of Lews Castle College”

Meeting date: 3 September 2025

Colin Beattie

I want to clarify something, Auditor General. The single issue in question aside, are the college’s accounts completely clean?

Public Audit Committee [Draft]

“Scottish National Investment Bank”

Meeting date: 25 June 2025

Colin Beattie

Although there is not a lot of capital needed to set up an asset management company, it will not be cost free. Do you anticipate the costs coming out of profits?

Public Audit Committee [Draft]

“Scottish National Investment Bank”

Meeting date: 25 June 2025

Colin Beattie

Coming back to what we were talking about with regard to future plans, if you had staff employed in subsidiaries, would their pay, too, be subject to the Government’s constraints?

Public Audit Committee [Draft]

“Scottish National Investment Bank”

Meeting date: 25 June 2025

Colin Beattie

Thank you.

10:45  

Public Audit Committee [Draft]

“Scottish National Investment Bank”

Meeting date: 25 June 2025

Colin Beattie

I realise that we are still in the early years of the life of the bank and that there will be development. You previously mentioned asset management and so on, and you have expressed your ambition to broaden the bank’s activity into the provision of advice, investment arrangements, the management of third-party capital and so on. How does all that align with the bank’s core activities and purpose? We should also bear in mind that these are fairly complex areas to get involved in and come with new risks and new costs. The set-up costs of giving advice and managing people’s capital will be very substantial. If you are actually going to be managing assets yourself, that will be a huge jump.