This is the first year in which Ofreg accounts have been prepared on a resource basis. The new-style accounts provide a great deal more information about Ofreg and its activities and promotes the principles of openness, transparency and accountability.
Up until the 2000 – 2001 fiscal year Ofreg produced accounts showing cash spend and known as Appropriation Accounts.
Resource accounting introduces a more commercial style, which reflects the costs of resources used whether or not they have been paid for in the financial year.
The introduction of Resource Accounts gives a more complete picture of the resources that Ofreg is using and provides much more information than the old cash accounts and for the first time Ofreg has a balance sheet showing all its assets.
The Accounts contain an audit certificate from the Comptroller & Auditor General who may also append a report to explain the reason for any audit qualification, or to report on other issues of public interest.
In accordance with the Government Resources and Accounts Act (Northern Ireland) 2001, Ofreg’s Resource Account was laid in the Northern Ireland Assembly on 15 November by the Department of Finance and Personnel.
The Resource Accounts 2001-2002 are available on this website or from The Stationery Office (price 8.50).