Statement of the Directors on the Accounting Systems
Statement of the directors on compliance with the regulator’s direction on the accounting systems of an post as required by the communications regulation (postal services) act 2011.
Under the Communications Regulation (Postal Services) Act 2011 the Commission for Communications Regulation, (ComReg), is designated as the National Regulatory Authority for the postal sector and An Post is designated as a universal service provider.
Under the Act, the accounting procedures of An Post are required to be conducted in accordance with directions laid down by ComReg and with certain provisions in the Act. On 8 December 2006, ComReg issued a direction to An Post setting out the regulator’s detailed requirements in relation to the accounting systems of An Post (the Direction).
The directors acknowledge their responsibility for compliance with the accounting provisions of the Act and the following statement describes how An Post applied the relevant provisions of the Regulations and the Direction for the accounting year beginning on 1 January 2011.
Financial Records and Accounting Systems
The financial records and accounting systems maintained by An Post contain sufficient detail to enable management to ensure that they comply with the accounting provisions of the Direction. Separate accounts are maintained for each of the services within the Universal Service.
Segmental profit and loss accounts and statements of net assets are being prepared for submission to ComReg for the year ended 31 December 2011. In compliance with the Direction, a competent body is reviewing these accounts and will issue an opinion on their compliance with the Direction.
Management Accounting Manual
A detailed accounting manual has been prepared showing the range and scope of data to be collected for the purpose of complying with the Direction and the basis on which the data is to be allocated/apportioned between services. This was submitted to ComReg in 2011.
The manual reflects the detailed revenue determination and cost allocation and apportionment principles and rules set out in the Direction.
Statement of ComplianceBased on the above steps and actions, the directors believe that An Post has complied with the relevant provisions of the Act and with the Direction of ComReg in relation to the Accounting Systems of An Post for the year ended 31 December 2011.
On behalf of the Board
John Fitzgerald Chairman
Donal Connell Director
22 March, 2012