Government of Wales Act 2006

141 Whole of government accounts: Welsh Ministers U.K.

(1) This section applies in respect of a financial year for which the Treasury make arrangements with the Welsh Ministers under section 10(8) of the Government Resources and Accounts Act 2000 (c. 20) (whole of government accounts: consolidation of Welsh accounts).

(2) The Welsh Ministers must prepare a set of accounts for the group of bodies which provide information to the Welsh Ministers in accordance with the arrangements under section 10(8).

(3) Accounts prepared under this section may include information referring wholly or partly to activities which—

(a) are not activities of bodies falling within subsection (2), but

(b) appear to the Welsh Ministers to be activities of a public nature.

(4) The accounts must contain such information in such form as the Treasury may direct.

(5) The Treasury must exercise the power under subsection (4) with a view to ensuring that the accounts—

(a) present a true and fair view, and

(b) conform to generally accepted accounting practice subject to such adaptations as are necessary in the context.

(6) For the purposes of subsection (5)(a) and (b) the Treasury must 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 [F1 section 464 of the Companies Act 2006](accounting standards) or to international accounting standards (as defined in [F2 section 474 of that Act]), and

(b) require the accounts to include, subject to paragraph (a), a statement of financial performance, a statement of financial position and a cash flow statement.

(7) Any accounts which the Welsh Ministers are required to prepare under this section for any financial year must be submitted by the Welsh Ministers to the Auditor General no later than 30th November in the following financial year.

(8) But the Welsh Ministers may by order substitute another date for the date for the time being specified in subsection (7).

(9) No order may be made under subsection (7) unless the Welsh Ministers have consulted—

(a) the Treasury, and

(b) the Auditor General.

(10) A statutory instrument containing an order under subsection (7) is subject to annulment in pursuance of a resolution of the Assembly.

Textual Amendments

F1 Words in s. 141(6)(a) substituted (6.4.2008) by The Companies Act 2006 (Consequential Amendments etc) Order 2008 (S.I. 2008/948), art. 3(1), Sch. 1 para. 243(4) (with arts. 6, 11, 12)

F2 Words in s. 141(6)(a) substituted (1.10.2009) by The Companies Act 2006 (Consequential Amendments, Transitional Provisions and Savings) Order 2009 (S.I. 2009/1941), art. 2(1), Sch. 1 para. 256 (with art. 10)

Commencement Information

I1 This provision in force immediately after "the 2007 election" by s. 161(1) (subject to s. 161(4)(5))