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PART 6
Financial statements and public accountability
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Accounts of Agency and subsidiary DACs
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46. (1) Part 6 of the Companies Act shall apply to the Agency and any subsidiary DAC subject to the modifications specified in subsections (2) to (6).
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(2) The Agency and any subsidiary DAC shall keep in such form as may be approved by the Minister with the consent of the Minister for Public Expenditure and Reform all proper and usual accounts of money received and expended by it and of all financial transactions undertaken in the performance of its functions.
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(3) Accounts kept in pursuance of this section shall clearly indicate—
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(a) the costs and revenues that accrue to the Agency or, as the case may be, the subsidiary DAC in respect of each of the different activities in which it engages, and
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(b) details of how the revenues that accrue to the Agency or, as the case may be, the subsidiary DAC from particular activities are assigned or allocated to other activities.
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(4) Accounts of the Agency and any subsidiary DAC kept in pursuance of this section shall be signed by the chief executive (who shall be the officer accountable for such accounts for the purposes of the Comptroller and Auditor General Acts 1866 to 1998) and an appointed member of the Board.
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(5) Accounts signed in pursuance of this section shall be submitted by the Agency or, as the case may be, the subsidiary DAC to the Comptroller and Auditor General for audit as soon as may be but not later than four months after the end of the financial year of the Agency for audit.
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(6) A copy of the accounts of the Agency or of the subsidiary DAC as so audited shall be presented to the Minister as soon as may be and the Minister shall cause a copy of the accounts as so audited to be laid before each House of the Oireachtas.
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