Oireachtas Joint and Select Committees
Thursday, 22 November 2012
Public Accounts Committee
2011 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Chapter 2 - Government Debt
Chapter 4 - National Pensions Reserve Fund
Chapter 25 - Accounts of the National Treasury Management Agency
National Treasury Management Agency - Financial Statements 2011
National Pensions Reserve Fund Commission - Financial Statements 2011
11:20 am
Mr. John Corrigan:
I do. The implementation shortfall is not an accounting check as such. The implementation shortfall is a wider market way of measuring the success of the transition in terms of its market impact. The fact that the prices fall within the implementation shortfall gives some additional degree of comfort. Let us be clear - when we got the invoice from State Street, we relied on that invoice - not unreasonably - at face value, having confirmed from them there were no commissions or deductions. We confirmed that.
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