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That contrasts starkly with the requirements for accountants. Under the ICAS system of regulation, at least 50 per cent of the principals of an accountancy firm must be chartered accountants if it is to be called a chartered accountancy...
It is necessary to reflect those adjustments to ensure that the budget is consistent with the accounting requirements and with the final outturn that will be reported in our annual accounts.
There have been difficulties with the choice of accountancy firm. Looking at what has been presented to you, I know that it seems that we are getting somewhere, but we have not yet decided on an accountancy firm.
Members indicated agreement.Annual Report and Accounts 2006-07 Annual Report and Accounts 2006-07 The next item is evidence on Audit Scotland's annual report and accounts for the year that ended on 31 March 2007.