Oireachtas Joint and Select Committees
Wednesday, 20 May 2015
Committee of Inquiry into the Banking Crisis
Nexus Phase
Mr. John McDonnell:
PwC would've been involved in all of the consultation periods on all financial accounting standards. We give our views. In some instances, we agree. In some instances, we disagree but, as I said, once the standard becomes part of IFRS, we, as a firm, are required to apply it as are our clients are required to apply it. So, it became GAAP and, therefore, we had to apply it. So, we ensured that we were proficient, expert and that we could apply it appropriately.
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