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All Official Reports of meetings in the Debating Chamber of the Scottish Parliament.
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Displaying 3032 contributions
Public Audit Committee
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
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
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
Meeting date: 3 September 2025
Colin Beattie
Who in the college would be responsible for ensuring compliance with FRS 102?
Public Audit Committee
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]
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]
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]
Meeting date: 25 June 2025
Colin Beattie
Thank you.
10:45Public Audit Committee [Draft]
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.
Public Audit Committee [Draft]
Meeting date: 25 June 2025
Colin Beattie
I would like to look at governance, operational arrangements and independence. I am pleased to see that the bank has established sound governance and reporting arrangements from the outset and that it has a clear decision-making framework in place, which is really important. The Auditor General’s report says:
“From the outset, the bank developed governance arrangements which met its public sector requirements, while also being aligned with the private investment finance sector.”
How difficult was that, and how effective has that been?