Oireachtas Joint and Select Committees
Thursday, 7 November 2013
Public Accounts Committee
Bord na gCon - Annual Accounts 2011
12:20 pm
Mr. Seamus McCarthy:
The values in the financial statements did not change, but the disclosures would have changed. There were changes in the statement in internal financial controls in respect of prize money and procurement issues as well. The very significant delay was in getting explanations around Limerick stadium and trying to understand what was the relevance of the issues being raised in the media, in correspondence and so on. There was also the question of impairment and going concern was obviously an issue.
All of those things coming together right when we were reviewing it threw up a lot of questions that needed to be answered. I take responsibility for a part of the delay because it was on my table for a couple of months while I found the days I needed to work through the whole process. It took me about three days personally to work through that. I would have cleared it in December. There were changes that needed to be made and that took until the following March.
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