Oireachtas Joint and Select Committees

Thursday, 30 June 2022

Public Accounts Committee

2020 Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 27 - International Co-operation
Vote 28 - Foreign Affairs

9:30 am

Mr. John Conlan:

As an accountant, I always like to look at how we are getting the best value out of this. It is not always a straightforward decision and there are many factors to take into account. Often, when we go into a new embassy or a new location, we build up the information and the knowledge that we need about the marketplace to enable us to decide whether to purchase or buy. Very briefly, we look at a number of factors. I would always look at the payback period. If we want to get payback, when we compare rent versus purchase, it may be less than 20 years.

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