MPs have demanded that the BBC is made more accountable to parliament about the way it spends £2.5 billion of licence fee payers' money.

During a debate on the remaining stages of the communications bill on Tuesday, MPs said the legislation may be missing important points whilst over-regulating some areas.

Critics fear the bill, which overhauls media regulation, is too prescriptive and could lead to Rupert Murdoch taking over Channel 5.

They also argue that it does not do enough to ensure that parliament scrutinises the finances of the BBC.

MPs will shortly complete their consideration of the legislation, which is set to face a rough ride in the House of Lords.

Lord Puttnam, who chaired an inquiry into the draft bill, is expected to join forces with opposition peers to challenge key elements of the legislation.

Moves to retain the BBC's self regulation on matters relating to accuracy and impartiality also came under fire.

MPs moved to call on ministers to open up the corporation to scrutiny by the National Audit Office.

Edward Leigh, the chairman of the public accounts committee, said MPs from all parties were concerned that the BBC was not accountable to parliament through statute for its £2.5 billion budget.

"There is total consensus among the public accounts committee and both Houses that this is matter of concern that the BBC is outside the comptroller and auditor general's remit," he said.

Leigh added that it was "no longer sustainable" to argue that the BBC should not answer to parliament through the NAO.

He said a move to make the BBC accountable to his committee on a voluntary did not go nearly far enough.

Labour's Jon Trickett said it was wrong to suggest that the BBC's impartiality would be undermined by making it accountable to parliament.

"The BBC is the last bastion that is resisting parliamentary control but they are frequently knocking on the door if they want an increase in the licence fee," he said.

The demand for NAO scrutiny was, however, defeated in a Commons vote.

During the debate, the role of the new regulator, Ofcom, was also called into question.

Tory MP Michael Fabricant, a member of the Commons culture, media and sport committee, expressed his concern at aspects of the legislation.

"One of the attractions of this particular Bill was the light touch that was going to be given to Ofcom," he said.

"I am a little concerned that there is now going to be just a bit too much prescription."