Question to the HM Treasury:

To ask Her Majesty’s Government what auditing arrangements are made in relation to the money received in penalties for the manipulation of Libor and distributed by HM Treasury.

Because the Treasury provides monies allocated as LIBOR fines to the relevant Government Department to administer on its behalf through the normal Estimates process the normal audit rules are in place as prescribed in Managing Public Money. The Accounting Officer for each Department is responsible for ensuring that the monies are distributed, accounted for and audited correctly.