Irish Horseracing Industry Act, 1994

Accounts and audits of Authority.

28.—(1) The Authority (and any subsidiary of the Authority) shall keep in such form as may be approved of by the Minister all proper and usual accounts of all moneys received or expended by it including a profit and loss account, a balance sheet and a cash flow statement in relation to its functions under this Act.

(2) Accounts kept pursuant to this subsection shall be submitted annually by the Authority to an auditor for audit and, immediately after the audit and not more than 6 months after the end of the financial year to which the accounts relate, a copy of the profit and loss account and of the balance sheet and a copy of the auditor's report of the accounts shall be presented to the Minister who shall cause copies thereof to be laid before each House of the Oireachtas.