Parliamentary Activity
Penrose Inquiry — 4 mentions in Parliament since Feb 2017
Showing mentions by Baroness Bowles of Berkhamsted
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Written Question
Lords
25 Nov 2021
Equitable Life Assurance Society
Baroness Bowles of Berkhamsted
Liberal Democrat
→ Department for Business, Energy and Industrial Strategy
To ask Her Majesty's Government, further to the Written Answer by Lord Callanan on 22 November (HL3771), what assessment they have made of the critiques by the Penrose Inquiry into Equitable Life summarised in points (a) – (e) of Appendix IV paragraph 1.
Government answer
Department for Business, Energy and Industrial Strategy
FRS 27 has addressed many of the critiques made by the Penrose Inquiry in the development of IFRS 17, except for the differences between the accounting bases for regulatory and financial reporting. Insurance is inherently a complex business so some comple...
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Written Question
Lords
08 Nov 2021
Equitable Life Assurance Society
Baroness Bowles of Berkhamsted
Liberal Democrat
→ Department for Business, Energy and Industrial Strategy
To ask Her Majesty's Government which of the deficiencies in insurance company accounting that were identified by the Penrose Inquiry into Equitable Life have been dealt with by the International Financial Reporting Standards Foundation; how they were dea
Government answer
Department for Business, Energy and Industrial Strategy
The Penrose Inquiry into Equitable Life focussed on UK financial and regulatory reporting in the years leading up to 2001, and how they related to the Equitable Life Assurance Society. The Inquiry identified that life insurance company accounts needed a c...
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