Seán Fleming (Laois, Fianna Fail)
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138. To ask the Minister for Public Expenditure and Reform if he will provide a list of all contingent assets in his Department and in agencies under his Department where amounts can be owed but are not listed in the national accounts as an asset; if he will further provide a full breakdown of each category of contingent assets and the estimated amounts in the category; and if he will make a statement on the matter. [34081/16]

Paschal Donohoe (Dublin Central, Fine Gael)
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While contingent assets are provided for in international accounting standards, they only apply to entities that use the accruals basis of accounting.  The Vote for my Department and the other Votes within the Public Expenditure and Reform Vote group are accounted for in the annual Appropriation Accounts on a cash basis in accordance with the Exchequer and Audit Departments Act, 1866.  Notes to the annual accounts are provided on foot of policies specified in the circulars issued by my Department.

In accordance with these accounting requirements, there is no reporting in relation to contingent assets.  In the case of agencies under my Department that are required to use the accruals basis of accounting, I am advised that they do not have any contingent assets that must be accounted for under the relevant accounting standards applying to them.