Directors' Report and Financial Statements Structures and Statistics ...

64 ITB Financial Statements 1999–2000
ITB Financial Statements 1999–2000
65
STATEMENT OF INSTITUTE RESPONSIBILITIES
Section 16 of the Regional Technical Colleges Act, 1992 requires the Institute to prepare financial statements in such form as
may be approved by the Minister for Education and Science with the concurrence of the Minister for Finance and to submit
them for audit to the Comptroller and Auditor General. In preparing these financial statements the Institute is required to:
• Select suitable accounting policies and apply them consistently,
• Make judgements and estimates that are reasonable and prudent,
• Prepare the financial statements on the going concern basis, unless that basis is inappropriate,
• Disclose and explain any material departures from applicable Accounting Standards.
The Institute is responsible for keeping proper books of account which disclose with reasonable accuracy at any time the
financial position of the Institute and which enable it to ensure that the financial statements comply with Section 16 of the Act.
The institute is also responsible for safeguarding its assets and for taking reasonable steps for the prevention and detection of
fraud and other irregularities.
Signed by:
REPORT OF COMPTROLLER AND AUDITOR GENERAL
INSTITUTE OF TECHNOLOGY BLANCHARDSTOWN
REPORT OF THE COMPTROLLER AND AUDITOR GENERAL
I have audited the financial statements on pages 66 to 76.
Responsibilities of the Institute and of the Comptroller and Auditor General.
The accounting responsibilities of the Institute are set out in the Statement of Institute Responsibilities on page
64. It is my responsibility under Section 16 of the Regional Technical Colleges Act 1992 to audit the financial
statements presented to me by the Institute and to report on them. As the result of my audit I form an
independent opinion on the financial statements.
Basis of Opinion
Director
____________________________________
In the exercise of my function as Comptroller and Auditor General, I plan and perform my audit in a way which
takes account of the special considerations in relation to management and operations which attach to bodies in
receipt of substantial funding from the State.
Chairman
____________________________________
An audit includes examination, on a test basis, of evidence relevant to the amounts and disclosures in the financial
statements. It also includes an assessment of the significant estimates and judgements made in the preparation
of the financial statements and of whether the accounting policies are appropriate, consistently applied and
adequately disclosed.
My audit was conducted in accordance with auditing standards which embrace the standards issued by the
Auditing Practices Board and in order to provide sufficient evidence to give reasonable assurance that the
financial statements are free from material misstatement whether caused by fraud or other irregularity or error. I
obtained all the information and explanations that I required to enable me to fulfil my function as Comptroller and
Auditor General and, in forming my opinion, I also evaluated the overall adequacy of the presentation of
information in the financial statements.
Opinion
In my opinion, proper books of account have been kept by the Institute and the financial statements, which are in
agreement with them, give a true and fair view of the state of the Institute's affairs at 31 August 2000 and of its
income and expenditure and cash flow for the period then ended.
________________________
John Purcell
Comptroller and Auditor General
26 September 2002