Scottish Futures Trust Limited (SFT) is a private limited company established under the Companies Act 2006 in 2008. SFT was established as a new "arm's length" body to support the efficiency and effectiveness of public infrastructure planning, funding and delivery in Scotland. It has been classified as an executive non-departmental public body since 2011.

The purpose of the instrument is to enable the Scottish Futures Trust Ltd (SFT) to have their accounts audited by the Auditor General for Scotland and to have an Accountable Officer appointed.

As a public body, SFT is expected to have an Accountable Officer who is responsible for the economic, efficient, and effective use of all related resources and personally answerable to the Parliament for the exercise of their functions. For the purposes of the Public Finance and Accountability (Scotland) Act 2000, the Permanent Secretary, as Principal Accountable Officer, is not automatically able to appoint an Accountable Officer within the SFT as it is not part of the Scottish Administration.

To appoint an Accountable Officer, an order is required under section 483 of the Companies Act 2006, requiring SFT accounts to be audited by the Auditor General for Scotland (AGS). The accounts will then be audited either by Audit Scotland, or by a private sector accountant appointed by Audit Scotland. These accounts will be laid before the Scottish Parliament and the AGS will be able to present reports on those accounts, or undertake performance audits of the SFT under s22 and s23 of the Public Finance and Accountability (Scotland) Act 2000.

The following amendment will be made to the Act—

• Adding Scottish Futures Trust to the list of bodies audited by the AGS.

The Delegated Powers and Law Reform Committee considered the instrument at its meeting on 20 September and made no recommendations.

The Committee took evidence on the instrument from Ivan McKee, Minister for Business, Trade, Tourism and Enterprise at its meeting on 5 October. Following the evidence session, the Minister moved motion S6M-05863—

That the Economy and Fair Work Committee recommends that the Companies Act 2006 (Scottish public sector companies to be audited by the Auditor General for Scotland) (No.2) Order 2022 be approved.

The motion was agreed to without division.

The Economy and Fair Work Committee recommends to the Parliament that the Companies Act 2006 (Scottish public sector companies to be audited by the Auditor General for Scotland) (No.2) Order 2022 be approved.