Companies Act 2014 section 912

Specification in annual programme of expenditure of amounts for reserve fund

Section 912 requires that the annual programme of expenditure of the Irish Auditing and Accounting Supervisory Authority (IAASA) must include the amount set aside for the reserve fund.

• The annual programme of expenditure must cover capital and all other planned costs for the financial year
• It must also specify the portion of revenue set aside for the reserve fund as required under section 919
• The revenue in question comes from funding received or due under sections 914 and 916 for that financial year
• This ensures transparency in how IAASA allocates its income between operational spending and reserves