asked the Minister for Communications 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.
Ceisteanna—Questions. Oral Answers. - State Boards' Accountancy Procedures.
8.
There are seven State bodies under the direct aegis of my Department, namely, Aer Lingus, Aer Rianta, An Post, Bord Telecom Éireann, British and Irish Steam Packet Company, Córas Iompair Éireann and Radio Telefís Éireann.
Each of these bodies prepares annual accounts in accordance with current accounting practice. The accounts of six of these bodies are audited by external firms of auditors, and the accounts of the seventh, RTE, are audited by the Comptroller and Auditor General. The audited accounts in each case are submitted to me as soon as possible after the audit is completed and are presented by me to both Houses of the Oireachtas as required by statute.
In addition, I receive regular interim financial reports from each of the bodies.
Having dealt with the accounting practices, will the Minister inform the House of the reporting practices of those bodies? Do they regularly, and in a modern way, prepare proper management accounts for their own boards and the Department?
We have made significant reforms in this regard. Most semi-State companies report quarterly and one or two report more frequently. We get financial returns as against budgets for both revenue and expenditure, subhead by subhead, and we are able to compare outturn against forecasts. We can identify any divergencies from the budgets in each case. This policy has been a notable success and is one of the contributing factors to getting the finances of the semi-State bodies under control.