36.— (1) The Executive shall keep all proper and usual accounts of all money received or expended by it.

(2) The Executive shall, in respect of each financial year, prepare annual financial statements (including accounts of income and expenditure and a balance sheet) in such form as the Minister F168[, after consultation with the Minister for Children, Equality, Disability, Integration and Youth,] may direct.

(3) The annual financial statements shall be prepared by the Executive in accordance with accounting standards specified by the Minister F168[, after consultation with the Minister for Children, Equality, Disability, Integration and Youth].

(4) The Executive shall adopt the annual financial statements on or before the 1st day of April in the year following the financial year to which they relate.

(5) On adopting the financial statements, the Executive shall submit a copy of them—

(a) to the Comptroller and Auditor General for audit, and

(b) to the Minister F168[and the Minister for Children, Equality, Disability, Integration and Youth] at the same time.

(6) On completing the audit, the Comptroller and Auditor General shall send to the Executive a copy of the annual financial statements together with the report on the audit.

F169[(7) The Executive shall immediately transmit a copy of the audited annual financial statements together with the Comptroller and Auditor General’s report to the Minister and the Minister for Children, Equality, Disability, Integration and Youth and the Minister shall ensure that a copy of each is laid before both Houses of the Oireachtas as soon as practicable.]

(8) Any examination of the Executive by the Comptroller and Auditor General under section 9 of the Comptroller and Auditor General (Amendment) Act 1993 shall extend to any arrangement entered into by the Executive under section 38.