Tuesday, 15 May 2018

Questions (91)

Catherine Murphy

Question:

91. Deputy Catherine Murphy asked the Taoiseach and Minister for Defence the amount of funds set aside on an annual basis for contingent liability for the past ten years to year end 2016; the way in which it is determined the amount that is forecast to be needed for contingent liability; if an actuary analysis for budgeting current and future contingent liability is carried out; and if a risk assessment in the context of contingent liability is carried out. [20923/18]

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Written answers (Question to Defence)

Public Financial Procedures set out that a contingent liability arises in any situation where past or current actions or events create a risk of a call on Exchequer funds in the future. Contingent liabilities are disclosed by way of a note to the appropriation account.

My Department has internal financial and risk assessment processes in place to identify any contingent liabilities. In the ten years to the end of 2016, there have been no items disclosed in the notes of the annual appropriation accounts of my Department with regard to such liabilities.