Vol. 411 No. 1
160 Mr. Quinn asked the Minister for Foreign Affairs if, in respect of each semi-State company responsible to his Department, he will outline (a) the type of internal audit system which has been established, (b) when it commenced to function, (c) the way in which it functions and (d) to whom it reports; whether he has satisfied himself that the system combines the necessary elements of scrutiny and managerial autonomy; and if he will make a statement on the matter.
The only semi-State company for which I am responsible is the Agency for Personal Service Overseas (APSO).
APSO was established for charitable purposes and is incorporated under the Companies Act as a company limited by guarantee and not having a share capital.
The board of APSO, which are appointed by me and which include an official from my Department, have responsibility for ensuring that proper financial accounts are maintained. Financial scrutiny is maintained by the board through regular financial reporting by the management on efficiency in the use of resources and on performance against the budget.
Standard internal controls are in place and APSO is also subject to an annual external audit by the Comptroller and Auditor General. The functions of the Comptroller and Auditor General include any recommendations required for the improvement of the internal systems of financial control and checks on their implementation.
The present arrangements were instituted in 1986 when the current structure of the organisation was established.
