Government Resources and Accounts Act (Northern Ireland) 2001

Resource accounts: preparation

9.—(1) A Northern Ireland department for which an estimate is approved by the Assembly in respect of a financial year shall prepare accounts (to be known as resource accounts) for that year detailing—

(a) resources acquired, held or disposed of by the department during the year, and

(b) the use by the department of resources during the year.

(2) Resource accounts shall be prepared in accordance with directions issued by the Department.

(3) The Department shall exercise the power to issue directions under subsection (2) with a view to ensuring that resource accounts—

(a) present a true and fair view,

(b) conform to generally accepted accounting practice subject to such adaptations as are necessary in the context of departmental accounts, and

(c) accord with guidance issued by the Department about the inclusion of an explanation of the difference between an item appearing in a department’s estimate and a corresponding item appearing in or reflected in the department’s resource accounts.

(4) For the purposes of subsection (3)(a) and (b) the Department shall in particular—

(a) have regard to any relevant guidance issued by the Accounting Standards Board Limited or any other body prescribed for the purposes of section 256 of the Companies Act 1985 (c. 6) (accounting standards), and

(b) require resource accounts to include, subject to paragraph (a)—

(i) a statement of financial performance,

(ii) a statement of financial position, and

(iii) a cash flow statement.

(5) A Northern Ireland department which prepares resource accounts shall send them to the Comptroller and Auditor General not later than 31st July of the financial year following that to which the accounts relate.

(6) The Department shall, in the case of each department which is obliged to prepare accounts in accordance with subsection (1), appoint an official of the department as its accounting officer.

(7) While a person holds appointment as a department’s accounting officer he shall be responsible for—

(a) the preparation of the department’s resource accounts, and

(b) their transmission to the Comptroller and Auditor General.

(8) The Department may appoint an official of a Northern Ireland department as accounting officer in respect of a particular part of the department’s resource accounts; and that person shall be responsible for the preparation of that part of the accounts.

(9) The following provisions of the 1921 Act shall cease to have effect—

(a) section 11 and the Schedule (appropriation accounts);

(b) section 13 (balance sheet);

(c) section 14 (statements of adjustments and excesses);

(d) section 17 (objections by Comptroller and Auditor General);

(e) section 25 (mode of keeping accounts).