Written question asked by Baroness Bowles of Berkhamsted (Liberal Democrat) on Wednesday, 11 May 2022, in the House of Lords. It was due for an answer on Wednesday, 25 May 2022. It was answered by Lord Callanan (Conservative) on Friday, 20 May 2022 on behalf of the Department for Business, Energy and Industrial Strategy.

Mike Ashley

Question: To ask Her Majesty's Government whether Mike Ashley was a serving member of the Accounting Standards Board when he acted as an expert witness to defend PwC against the Financial Reporting Council’s action in respect of PwC’s audit of Mayflower plc; and if so, (1) what assessment was made of whether this constituted a conflict of interest, and (2) whether he offered to resign from the Board.

Answer: Mike Ashley was a serving member of the UK Accounting Standards Board, which was a Board of the FRC, when he acted as an expert witness on behalf of PwC during the Tribunal between the Accountancy Investigation and Discipline Board and PwC. The judgement for this case is available on the FRC’s website (and a copy is attached to this response). The Government does not hold information relating to the procedures of the UK Accounting Standards Board which was a Board of the FRC and ceased operating in 2012.

Secondary information

Type: Written question
Reference: HL130
Session: 2022-23
Attachment: Case Judgement copy - HL130
Subjects: Conflict of interests Resignations Accounting Standards Board Financial Reporting Council PwC Ashley, Mike
Link: View this Written question on www.parliament.uk