Dáil Éireann Debate, Tuesday - 17 November 2020
432. Deputy Catherine Murphy asked the Minister for Defence the way in which his Department’s annual amount for contingent liability is set; the factors considered when setting contingent liability; if forecasting is undertaken regarding setting future amounts; the contingent liability figure for his Department for 2020; and if the contingency provision has been utilised to date in 2020. [36899/20]
View answerPublic 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 which seek to identify any contingent liabilities. No contingent liability has been identified to date for 2020.
