The National Treasury Management Agency (“the Agency”) is required by the Dormant Accounts Act, 2001 (as amended by the Unclaimed Life Assurance Policies Act, 2003, the Dormant Accounts (Amendment) Act, 2005, and the Dormant Accounts (Amendment) Act, 2012) to prepare financial statements in respect of the operations of the Dormant Accounts Fund for each financial year.

In preparing those statements, the Agency:

• selects suitable accounting policies and then applies them consistently;
• makes judgements and estimates that are reasonable and prudent;
• prepares the financial statements on a going concern basis unless it is inappropriate to do so;
• discloses and explains any material departure from applicable accounting standards.

The Agency shall, in relation to the Dormant Accounts Fund, keep in a form that may be specified by the Minister for Finance adequate accounting records of all moneys received or expended by it and for maintaining adequate accounting records which disclose with reasonable accuracy at any time the financial position of the Fund.

The Agency is also responsible for safeguarding assets under its control and hence for taking reasonable steps in order to prevent and detect fraud and other irregularities.