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Annual Report and Accounts 1999-2000Accounts and Financial Information |
Under Section 5 of the Exchequer and Audit Departments Act 1921, the Treasury has directed the Radiocommunications Agency to prepare a statement of accounts for each financial year in the form and on the basis set out in the Accounts Direction (on page 68) of these financial statements. The accounts are prepared on an accruals basis and must give a true and fair view of the Agency's state of affairs at the year end and of its income and expenditure, total recognised gains and losses and cash flows for the financial year.
In preparing the accounts, the Agency is required to comply with the Resource Accounting Manual issued by the Treasury, and in particular to :
observe the relevant accounting and disclosure requirements, and apply suitable
accounting policies on a consistent basis;
make judgements and estimates on a reasonable basis;
state whether applicable accounting standards have been followed, and disclose
and explain any material departures in the financial statements;
prepare the financial statements on a going concern basis, unless it is inappropriate
to presume that the Agency will continue in operation.
The Accounting Officer for the Department of Trade and Industry has appointed the Chief Executive of the Radiocommunications Agency as the Accounting Officer for the Agency. His relevant responsibilities as Accounting Officer, including responsibility for the propriety and regularity of the public finances and for the keeping of proper records, are set out in the Accounting Officers' Memorandum, issued by the Treasury and published in Government Accounting.
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