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 is responsible in relation to the Dormant Accounts Fund, for keeping in a form that may be specified by the Minister for Finance all proper and usual accounts of all moneys received or expended by the Agency and for maintaining 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.

8 May 2017