Annual Reports
The primary means a state body has of reporting on its activities to the minister, the sponsor department, the Dáil and the public is its annual report and financial statements. All state bodies are obliged to produce these. The accounting requirements for a state body will normally be set out in its founding legislation.
The areas to be covered in the annual report typically include
- information about the body and its objectives
- achievements and performance against key targets as set out in the plan
- business prospects and corporate strategy.
The format of the annual report is not fixed. As it is the paramount means of communicating with stakeholders the use of photographs and graphs as well as narrative is recommended. Newly appointed directors should have been provided with a copy of the latest annual report and financial statements as part of their induction pack.
You can download a format for the report from the chairperson regarding the assessment of internal financial controls of a state body.