Transport (Railway Infrastructure) Act, 2001

Accounts and audits.

19.—(1) The chief executive, under the direction of the Agency, shall cause to be kept on a continuous basis proper books of account of all income and expenditure of the Agency, and of the sources of such income and the subject matter of such expenditure, and of the property, assets and liabilities of the Agency and shall keep and shall account to the Agency for all such special accounts as the Minister or the Agency, with the consent of the Minister, may from time to time direct should be kept.

(2) The financial year of the Agency shall be the period of 12 months ending on the 31st day of December in any year, and for the purposes of this section and section 18 the period commencing on the establishment day and ending on the following 31st day of December, shall be deemed to be a financial year.

(3) The Agency, the chief executive and the other members of the staff of the Agency shall, whenever so requested by the Minister, permit any person appointed by the Minister to examine the books and accounts of the Agency in respect of any financial year or other period and shall facilitate any such examination, and the Agency shall pay such fee therefor as may be fixed by the Minister.

(4) The accounts of the Agency for each financial year shall be prepared in such form and manner as may be specified by the Minister. The accounts shall be prepared by the chief executive and approved by the Agency as soon as practicable but not later than 3 months after the end of the financial year to which they relate for submission to an auditor for audit. A copy of the accounts and the auditor's report thereon shall be presented to the members of the Agency and to the Minister as soon as practicable and the Minister shall cause a copy of these documents to be laid before each House of the Oireachtas.

(5) For the purposes of subsection (4) the Agency shall appoint auditors.

(6) From time to time, and whenever so requested, the Agency shall account for the performance of its functions to a Committee of one or both Houses of the Oireachtas and shall have regard to any recommendations of such Committee relevant to its functions.