6 Conclusion
59. Companies House appears to be fulfilling its
core functions reasonably well; it handles and provides millions
of documents a year; its charges are modest; it is using any surpluses
for further investment, and it has met most of its ministerial
targets. The issues that have arisen during this inquiry have
been about matters that are not entirely within its control. The
first is where the balance between publication of information
and verification of that information should lie. It would be inaccurate
to say Companies House was currently simply a receiver and disseminator
of information; its role in checking for disqualified directors
goes further. However, beyond that, it offers no assurance. We
do not necessarily think this is unreasonable, but recommend there
should be a review to consider the balance. The other significant
issue is the extent to which companies should be encouraged or
even forced to use electronic services, which reduce the risk
of fraud. We are disappointed that Companies House has missed
its targets for electronic take up of these services, and although
we welcome the initiative to increase this, we are disappointed
it will not begin until 2009. We understand the difficulty in
enforcing electronic filing when current take-up levels are only
49%, but we believe that to reduce fraud, this should be the Government's
ultimate aim.
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