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Dáil Éireann debate -
Wednesday, 19 Oct 1983

Vol. 345 No. 1

Written Answers. - Auditors' Fees.

335.

asked the Minister for Finance how auditors' fees for statutory bodies are decided; and if he will make a statement on the matter.

The Comptroller and Auditor General audits the accounts of certain statutory bodies either as the duly appointed auditor under the Companies Act, 1963, or by appointment of the Minister for Finance or other Ministers concerned. Fees are charged for these audits and are calculated each year by costing the man-days of the officers engaged on the audits at the appropriate salary scales. Also included in the fees is a percentage addition to cover superannuation and administration charges. Travel and other costs are added where relevant. Fees are revised from year to year to cover salary increases.

The Comptroller and Auditor General also audits the accounts of a number of statutory bodies where he is the appointed auditor in the specific legislation setting up the bodies; no fee is charged for these audits.

With regard to State-sponsored bodies whose accounts are not audited by the Comptroller and Auditor General, the fixing of auditors' fees for those bodies which are limited liability companies is governed by section 160 of the Companies Act, 1963. The normal practice under the terms of that section is that auditors' fees are decided upon at the annual general meetings of the bodies, However, there is provision under the section whereby auditors may be appointed by the directors of a company outside annual general meetings when a vacancy arises or by directors of a newly established company before the first annual general meeting of the company. In both such cases the auditors' fees may be fixed by the directors. The fixing of auditors' fees for State-sponsored bodies which are not limited liability companies but which derive their authority from the Acts under which they were established, and whose accounts are not audited by the Comptroller and Auditor General, are decided upon by the bodies themselves.

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