2. Basis of Preparation
The financial statements have been prepared for the year ended 31 December 2017. The financial statements are prepared on an accruals basis under the historical cost convention.
The NTMA is required under section 46(1) of the Dormant Accounts Act 2001 to keep all adequate accounting records of moneys received or expended by the Agency in relation to the Fund. In accordance with section 46(1) of the Dormant Accounts Act 2001, the financial statements have been prepared in a form specified by the Minister for Finance.
The presentation currency is euro. All amounts in the financial statements have been rounded to the nearest thousand unless otherwise indicated. Where used, ‘000’ or ‘k’ denotes thousand, and ‘m’ denotes million.