Notes to Financial Statements
The Irish Investment Fund, Inc. (the "Fund") was incorporated under the laws of the State of Maryland on
December 14, 1989 and is registered as a non- diversified, closed-end management investment company under
the Investment Company Act of 1940, as amended.
A. SIGNIFICANT ACCOUNTING POLICIES:
The preparation of financial statements in accordance with generally accepted accounting principles requires
management to make estimates and assumptions that affect the reported amounts and disclosures in the financial
statements. Actual results could differ from those estimates. The following is a summary of significant accounting
policies consistently followed by the Fund in the preparation of its financial statements.
SECURITY VALUATION: Securities listed on a stock exchange for which market quotations are readily
available are valued at the closing prices on the date of valuation, or if no such closing prices are available, at the
last bid price quoted on such day. If there are no such quotations available for the date of valuation, the last
available closing price will be used. The value of securities and other assets for which no market quotations are
readily available is determined in good faith at fair value using estimation methods approved by the Board of
Directors. Short-term securities that mature in 60 days or less are valued at amortized cost.
DIVIDENDS AND DISTRIBUTIONS TO STOCKHOLDERS: The Fund intends to distribute to
stockholders, at least annually, substantially all of its net income from dividends and interest payments and
substantially all of its net realized capital gains, if any. Income distributions and capital gain distributions are
determined in accordance with income tax regulations which may differ from generally accepted accounting
principles. These differences are due primarily to differing treatments of income and gains on various investment
securities held by the Fund, timing differences and differing characterization of distributions ma