7.—(1) Accounts of F2[education and training boards] shall be audited by the Comptroller and Auditor General.

(2) In the course of the audit of such accounts, the Comptroller and Auditor General shall carry out such audit tests as he considers appropriate in order to satisfy himself as to—

(a) whether the income and expenditure recorded therein are supported by substantiating documentation,

(b) whether the F2[board] concerned has applied such expenditure for the purposes for which the sums paid to the F2[board], whether out of moneys provided by the Oireachtas or otherwise, were intended, and

(c) whether the transactions conform with the authority under which they purport to have been carried out.

(3) Upon the completion of his audit of the accounts of F2[an education and training board] for a financial year, the Comptroller and Auditor General shall attach to the accounts a certificate stating whether, in his opinion—

(a) the accounts properly present the income and expenditure of the F2[board],

(b) the statement of balances properly presents the state of affairs of the F2[board] at the end of the financial year concerned, and

(c) the accounts are in accordance with any accounting policies laid down by the Minister for Education,

and referring to any material case in which—

(i) the F2[board] has failed to apply expenditure recorded in the accounts for a purpose for which the sums paid to the F2[board] and out of which the expenditure was made, were intended, or

(ii) transactions recorded in the accounts do not conform to the authority under which they purport to have been carried out.

(4) Upon the completion of his audit of the accounts of a F2[an education and training board], the Comptroller and Auditor General shall also draw up a report in writing on—

(a) such matters arising on the audit as he considers it appropriate to report on, and

(b) such matters as he considers it appropriate to report on arising from his examination of the system of internal control operated by the F2[board] to ensure—

(i) the regularity of its financial transactions,

(ii) the correctness of its income and expenditure,

(iii) the reliability and completeness of its accounting records, and

(iv) the safeguarding of the assets owned or controlled by it.

(5) The accounts of F2[an education and training board] shall be submitted to the Comptroller and Auditor General for audit on or before such date in the year following the financial year to which they relate as may stand specified for the time being by order made for the purposes of this subsection by the Minister after consultation with the Minister for Education.

(6) Upon the completion of the audit of the accounts of F2[an education and training board], the Comptroller and Auditor General shall submit copies of the accounts together with his certificate under subsection (3), and report under subsection (4), in relation to the accounts to the F2[board] and to the Minister for Education who shall cause copies thereof to be laid before each House of the Oireachtas on or before such date as may stand specified for the time being by order made for the purposes of this subsection by the Minister after consultation with the Minister for Education and then the committee shall publish the accounts, certificate and report.

(7) The Minister may by order made after consultation with the Minister for Education vary either or both of the dates standing specified for the time being under subsections (5) and (6).

(8) This section shall have effect as respects the accounts of a vocational education committee for a financial year of the committee beginning not less than 3 months after the commencement of this section.