Vol. 555 No. 5
260 Mr. Eamon Ryan asked the Minister for Arts, Sport and Tourism if his Department's annual accounts are currently done on a full accrual accounting system; and if not, if there is a time-scale for the implementation of such an accounting method. [19342/02]
The accounts of my Department are a cash-based record of receipts and payments in the year compared with the Estimate provision, with additional information of an accruals nature. They are prepared in accordance with the Exchequer and Audit Departments Act, 1866, and accounting rules and procedures laid down by the Minister for Finance.
My Department, which was only established in June 2002, is currently reviewing its position in relation to the roll-out of the management information framework, MIF. The question of accrual accounting will be examined in that context having regard to the milestones set centrally for the overall development of the MIF under the strategic management initiative.
