Annual Report and Accounts 2000-2001

Accounts Direction given by the Treasury in accordance with Section 5(1) of the Exchequer and Audit Departments Act 1921:

1. This direction applies to the Radiocommunications Agency.
2. The Radiocommunications Agency shall prepare accounts for the year ended 31 March 2001 in compliance with the accounting principles and disclosure requirements of the H M Treasury's Resource Accounting Manual ("the Resource Accounting Manual") which is in force for that financial year.
3. The accounts shall be prepared so as to give a true and fair view of the income and expenditure, total recognised gains and losses, and cash flows of the Radiocommunications Agency for the financial year and of the state of affairs as at 31 March 2001.
4. Compliance with the requirements of the Resource Accounting Manual will, in all but exceptional circumstances, be necessary for the accounts to give a true and fair view. If, in these exceptional circumstances, compliance with the requirements of the Resource Accounting Manual is inconsistent with the requirement to give a true and fair view the requirements of the Resource Accounting Manual should be departed from only to the extent necessary to give a true and fair view. In such cases, informed and unbiased judgement should be used to devise an appropriate alternative treatment which should be consistent both with the economic characteristics of the circumstances concerned and the spirit of the Resource Accounting Manual. Any material departure from the Resource Accounting Manual should be discussed in the first instance with the Treasury.
5. This direction replaces any previous direction issued to the Radiocommunications Agency.

David Loweth
Head of the Central Accountancy Team,
Her Majesty's Treasury
30 May 2001

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