POWERS OF THE AUDIT COMMISSION

Motion Text

That this House recognises that the Audit Commission is an independent body responsible for ensuring that public money is spent economically, efficiently and effectively; regrets, however, that its powers do not allow it to comment upon nor challenge property valuations which a local authority has obtained from a qualified valuer, particulary when the person is employed by the local authority; cites as an example the purchase by Colchester Borough Council of a property at auction for £755,000 and its subsequent sale privately to a developer for £650,000; and urges the Government to amend the Audit Commission Act to enable the Audit Commission, in situations where concerns have been raised, to obtain a valuation from two other valuers so that it can be satisfied that public money is being spent economically, efficiently and effectively.