Under section 14 of the Horse and Greyhound Racing Act 2001 the accounts of Bord na gCon are audited by the Comptroller & Auditor General. He has approved the latest annual report for 2001.
On 2 October 2001 the code of practice for the governance of State bodies was approved by Government. On 23 November 2001 Bord na gCon was notified of this code and that its application was mandatory. Earlier this year I met the chief executive officers of all the agencies under my Department and reinforced the need to have in place procedures for control and management of expenditure. The board's chairman, when submitting its 2001 annual report, outlined the procedures which it adopted in relation to the governance of State bodies.
Bord na gCon is also required to implement pay policy for the public sector as determined by the Government. This includes compliance with the terms of national wage agreements such as that provided for in the PPF. The level of remuneration of the chief executive is subject to my approval and that of the Minister for Finance.