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Preparation and audit of statutory financial statements of HBFI and HBFI group entities
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15. (1) Part 6 of the Companies Act shall apply to HBFI and any HBFI group entity subject to the modifications specified in subsections (2) to (7).
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(2) HBFI and any HBFI group entity shall, not later than 2 months after the end of the financial year to which they relate, submit the statutory financial statements, prepared in accordance with Part 6 of the Companies Act, to the Comptroller and Auditor General for audit.
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(3) The Comptroller and Auditor General shall—
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(a) audit, and
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(b) prepare a report in the form set out in section 336 of the Companies Act on,
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the statutory financial statements submitted to him or her under subsection (2).
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(4) HBFI shall, as soon as practicable after receipt of the report of the Comptroller and Auditor General prepared under subsection (3), present to the Minister a copy of—
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(a) the statutory financial statements submitted to the Comptroller and Auditor General under subsection (2), and
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(b) the report prepared under subsection (3).
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(5) The Minister shall cause a copy of the statutory financial statements and report presented to him or her under subsection (4) to be laid before each House of the Oireachtas as soon as practicable following their presentation.
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(6) In relation to HBFI and any HBFI group entity—
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(a) a reference to “statutory auditor” in the Companies Act shall include a reference to the Comptroller and Auditor General, and
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(b) a reference to “audit of the statutory financial statements” in the Companies Act shall include a reference to the audit of the statutory financial statements by the Comptroller and Auditor General under subsection (3).
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(7) Chapters 18, 20 and 21 of Part 6 of the Companies Act shall not apply to the Comptroller and Auditor General in the performance of his or her functions in relation to HBFI, or any HBFI group entity, nor to the audit of the statutory financial statements of HBFI, or any HBFI group entity, by him or her.
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(8) In this section, “statutory financial statements” has the same meaning as it has in Part 6 of the Companies Act.
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