60% of publicly funded bodies failed to produce financial statements on time - PAC

He criticised repeated delays by public sector bodies in producing their financial statements.

Deputy Seán Fleming said: "There are 224 semi-state, health, education and north-south agencies with a turnover totalling €43.7 billion. Of these 60% failed to produce financial statements for audit within the required three months. This is unacceptable. We have already indicated in the PAC that we are not prepared to tolerate any longer.

"I recognise there has been some improvement in 2015 when compared to 2014 but it is not enough. The Committee will be requesting an up to date position on the 2016 accounts from the C&AG in the coming weeks.

"The target for the Committee is to ensure that every publicly funded body will meet its financial reporting obligations and deadlines for 201 . The Committee will be monitoring this in early 2018."

"Some sectors do not appear to be taking the matter seriously enough. The principal offenders are in the Education sector. The Secretary General of the Department of Education and Skills will be appearing before the PAC next week. He will be asked to account for the failure of oversight by his Department in this matter. For too long there has an overly casual approach by many public bodies in accounting  for the management and spending of  taxpayers' money. The PAC is determined to bring this to an end.   

"Any organisation that has still not produced its 2015 accounts will be  immediately asked to explain their failure to do so directly to the PAC."

The Chairman concluded: "The PAC is sending a message to public sector bodies. If you cannot meet your basic obligations to produce a set of accounts for audit within the timeframe, you will find yourself appearing before the PAC to explain fully”