asked the Minister for Energy the procedures used for accounting to the Government, by each State board under his control; and if all of these are in keeping with modern accounting and reporting practices.
Written Answers. - Accounting Procedures.
32.
The procedures adopted by each of the State bodies under my control for accounting to the Government are in accordance with the requirements and provisions specified in legislation concerning these bodies or in their memorandum and articles of association as the case may be, and also comply with directives issued by the Minister for Finance.
In general the procedures require the submission annually of:
(1) An annual report and accounts which are laid before each House of the Oireachtas.
(2) In the case of commercial State bodies a corporate plan setting out its business plan for the next five years.
(3) Annual capital expenditure estimates for incorporation in the Public Capital Programme.
(4) Specific approval for large capital projects, for increases in authorised borrowings and guarantees of borrowings.
(5) Changes in prices and pricing policy.
I am satisfied that the procedures in place are in general in keeping with modern accounting and reporting practices and it is my intention to up-date them to take account of any relevant developments.