Inland Fisheries Act 2010

46.

Accounts of IFI.

46.— (1) IFI shall cause to be kept on a continuous basis proper books of accounts of—

( a) all income and expenditure of IFI,

( b) all sources of such income and the subject matter of such expenditure, and

( c) the property, assets and liabilities of IFI.

(2) IFI 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 may direct.

(3) IFI shall adopt the annual financial statements prepared in accordance with subsection (2) as soon as practicable but not later than 3 months after the end of the financial year to which they relate.

(4) The financial year of IFI shall be the period of 12 months ending on 31 December in any year and for the purposes of this section and sections 45 and 47 , the period commencing on the establishment day and ending on 31 December in that year shall be deemed to be a financial year.

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

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

( b) the Minister,

at the same time.

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

(7) IFI shall immediately transmit a copy of the audited annual financial statements together with the Comptroller and Auditor General’s report to the Minister who shall ensure that a copy is laid before the Houses of the Oireachtas as soon as practicable.

(8) IFI and the officers of IFI shall, whenever so required by the Minister, permit any person appointed by the Minister to examine the books and accounts of IFI in respect of any year or other period and shall facilitate such examination.

(9) IFI shall pay such fees in respect of an examination under subsection (8) as may be fixed by the Minister.