Dáil Éireann Debate, Wednesday - 5 July 2017
139. Deputy John McGuinness asked the Minister for Justice and Equality if he will review the transcript of the Committee of Public Accounts meeting of 29 March 2001 and address queries (details supplied). [31669/17]
Amharc ar fhreagraAs the Deputy may be aware, the High Court has jurisdiction in wards of court matters and management of the courts is the responsibility of the Courts Service, which is independent in exercising its functions under the Courts Service Act 1998.
However, in order to be of assistance to the Deputy, I have had enquiries made and the Courts Service has informed me that in relation to the specific queries raised by the Deputy, the following is the position:
1. The Accountant of the Courts of Justice has been publishing annual financial statements on court funds since 2001 which have been furnished to the Minister for Justice and Equality and also to the Minister for Finance/Public Expenditure and Reform. A copy is also provided to the Comptroller and Auditor General and published on the Courts Service website. As the reporting period runs from 1 October to 30 September the following year the annual financial statement for 2017 will be provided in due course.
2. These accounts and financial statements have been audited by independent external auditors, who are selected by competitive tender. Currently Grant Thornton conduct this audit. The legislation governing the scope of the role of the Comptroller and Auditor General precludes the audit of funds under the control of the courts.
3. The position of the State in relation to compensating a beneficiary for a loss incurred is restricted to situations where an administrative error has resulted in a loss. Very few such cases have arisen. The only other possible situation where compensation could be considered could be where as a result of negligence a loss was incurred. In this regard and, as requested by the Public Accounts Committee in July 2015, an independent external review of the Growth Fund, covering the period May 2007 to January 2009, was published in November 2016. This report found that: "The Spectrum Growth Fund performed in line with its benchmark and achieved better returns than that of comparable strategies and reference indices."
4. The Courts Service has further informed me that they have no objection to the Comptroller and Auditor General auditing court funds but notes that the Comptroller and Auditor General, as stipulated in the Comptroller and Auditor General Act 1993, is precluded from auditing funds held under the control of the courts.
- The Courts Service has further advised that all the recommendations contained in the National Treasury Management Agency (NTMA) Report (2000) have been implemented. This includes:
- Investment Committee established. This has representation from the NTMA
- External investment advisors appointed (competitive tender)
- External fund managers appointed (competitive tender)
- Computerised financial management system installed in 2003
- Tailored investment strategies in place that meet the investment needs of beneficiaries
- Independent external audit carried out annually
- Audited annual financial statements submitted to the Minister for Justice and Equality and the Minister for Finance
- A copy of the audited financial statements provided to the Comptroller and Auditor General (C&AG)
- Annual audited financial statements published on the Courts Service website.
