Dáil Éireann Debate, Wednesday - 2 June 2004
109 Mr. J. Bruton asked the Minister for Finance the work completed by the audit committee in his Department in examining the implementation of his Department’s risk management strategy in accordance with paragraph 6.51 of the Mullarkey report. [16875/04]
View answerRisk management is a standing item on the agenda for meetings of the Department's audit committee. Central guidance on risk management strategy has recently been made available by the Department of Finance. The Department of Finance is currently progressing its own internal risk management strategy. The audit committee will have an advisory role in relation to best practice on risk management for this Department. Since the beginning of this year the audit committee has requested that recommendations in internal audit reports be grouped according to risk. In addition, the audit committee has requested that the audit plans of the internal audit unit be based on risk assessment from 2005.
112 Mr. J. Bruton asked the Minister for Finance if he will publish the Accounting Officer’s memorandum issued to the Secretary General of his Department; and if this includes a responsibility to provide independent advice on the financial consequences and risks of Government policy initiatives. [16920/04]
View answerMy Department issued a memorandum on the role and responsibilities of Accounting Officers to the Accounting Officers of Departments and offices late last year. It does not include mention of a responsibility in the terms specified by the Deputy, though it does mention the requirement in my Department's document, Public Financial Procedures, that Accounting Officers should ensure that all relevant financial considerations are taken into account and, where necessary, brought to the attention of Ministers in regard to the preparation and implementation of policy proposals relating to expenditure or income. I am arranging to have copies of the memorandum placed in the Oireachtas Library and also to have it put up on my Department's website, www.finance.gov.ie.
