Feargal Quinn (Independent)

I move amendment No. 34:

In page 21, subsection (4), line 29, to delete "as soon as practicable but not later than 3 months" and substitute "not later than 1 month".

I have tabled a few amendments about time. However, the timescale here is far too leisurely. We are not talking here about the publication of annual accounts or the publication of audited accounts, we are talking about the submission of accounts for audit. There is absolutely no reason such accounts should not be ready within one month of the end of the financial year. All well run businesses keep accounts on a monthly basis at least. Just one month's account would, therefore, remain to be closed at the end of the year. Speed in reporting is an essential dimension of accountability. We are asking here that they be sent for audit within one month. We are not talking about publication. I know the Minister had some difficulty in the past about the speedy publication of accounts as I would see it. However, accounts should be sent for audit within one month rather than the leisurely three months suggested here.