FINANCIAL REPORT

One of the key advantages that the PCC has over any legal or statutory system is that it costs nothing for people to complain. Similarly, it costs the taxpayer nothing either - because the significant costs of maintaining a system of effective self regulatory system are carried by the newspaper and magazine publishing industry itself. This, in itself, is a powerful symbol of the industry's commitment to high ethical standards of reporting. Indeed, the PCC has always been given the funds it asks for and needs to maintain an effective system of self regulation.

The Commission is funded by Pressbof - the Press Standards Board of Finance - an independent body which collects registration fees from across the newspaper and magazine publishing industry.

The PCC's audited accounts for the year ended 31.12.2000 were not available at the time of the publication of this Review, and will accordingly be published in next year's Annual Review.

Auditors: Deloitte and Touche
Solcitors: Sheridans