IRELAND 24 November 2017
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Over 400 public bodies were covered by the terms of the Prompt Payment of Accounts Act 1997 which set requirements to pay suppliers on time and in the event of late payment to pay interest to them. It also provided for the reporting of payment practices and the audit of compliance. This Special Report examines the extent to which suppliers complied with the Act in its first year of operation, the implementation issues for purchasers, whether reporting of payment practices was satisfactory and what issues arose in the audit of compliance.