Financial Reporting Advisory Board
Agenda item 4 relates to a letter that we have received from the Minister for Finance and Local Government on the Financial Reporting Advisory Board. The letter, dated 30 May, was written in response to a joint letter from the conveners of this committee and the Finance Committee to the minister. The Finance Committee is due to consider the matter at its meeting on Tuesday 11 September.
The minister's reply addresses the two issues that we raised in our original letter. First, we asked that the FRAB report be received by the Audit Committee and Finance Committee of the Scottish Parliament as well as by the Committee of Public Accounts and the Treasury Committee of the House of Commons. Secondly, we asked that the independent economist on FRAB be appointed after discussion with the chief economist at the Scottish Executive. Do members find the arrangement proposed by the minister acceptable?
Members indicated agreement.