Delay in Financial Reporting by Public Sector bodies unacceptable - PAC Chairman

Committee Chairman Seán Fleming said: “The Comptroller & Auditor General audits approximately 300 public bodies and it is shocking to think that around 200 miss their reporting deadlines. All Government Departments produced their financial statements within the required timeframe and those missing their reporting timeframes relate to other State and public bodies.

“I am particularly concerned about the Education and Training sector which had a particularly high level of delays in reporting. There have also been ongoing delays in the production of financial statements and the finalisation of audits for a number of universities. The Public Accounts Committee has already decided to scrutinise the accounts of third level institutions in March and April of this year, starting with universities and moving on to Institutes of Technology.

“The report from the C&AG on financial reporting in the public sector is very timely and the Public Accounts Committee will follow through on this report in a very strong and determined manner.”