Annual Accounts for the year ending 31st December 2007

Annual Accounts for the year ending 31st December 2007
Basis of Audit Opinion
We conducted our audit of the accounts in accordance with International Standards
on Auditing (UK and Ireland) issued by the Auditing Practices Board. An audit includes
examination, on a test basis, of evidence relevant to the amounts, disclosures and
regularity of financial transactions included in the accounts. It also includes an
assessment of the significant estimates and judgments made by the Body and the Chief
Executive in the preparation of the accounts, and of whether the accounting policies are
appropriate to the Body’s circumstances, consistently applied and adequately disclosed.
We planned and performed our audit so as to obtain all the information and
explanations that we considered necessary to provide us with sufficient evidence to
give reasonable assurance that the accounts are free from material misstatement,
whether caused by error, or fraud or other irregularity and that, in all material respects,
the expenditure and income have been applied for the purposes intended by Dáil
Eireann and the Northern Ireland Assembly and the financial transactions conform to
the authorities which govern them. In forming our opinion we have also evaluated the
overall adequacy of the presentation of information in the accounts.
Opinion
In our opinion
• the accounts, which have been properly prepared in accordance with the
accounts direction issued under the governing legislation, give a true and fair
view, in accordance with that direction, of the state of the Body’s affairs at
31 December 2007 and of its surplus for the year then ended;
• in all material respects the expenditure and income have been applied for the
purposes intended by Dáil Eireann and the Northern Ireland Assembly and the
financial transactions conform to the authorities which govern them.
We have obtained all the information and explanations that we consider necessary for
the purpose of our audit. In our opinion proper accounting records have been kept by the
Body. The accounts are in agreement with the accounting records.
John Buckley
Irish Comptroller and Auditor General
Dublin Castle
Dublin 2
Ireland
22 August 2008
JM Dowdall
Comptroller and Auditor General for
Northern Ireland
106 University Street
Belfast
BT7 1EU
22 August 2008
52 Waterways Ireland Annual Report and Accounts 2007