Oireachtas Joint and Select Committees
Wednesday, 20 May 2015
Committee of Inquiry into the Banking Crisis
Nexus Phase
Mr. John McDonnell:
The primary debates we would have had, Chairman, were around the differences between this GAAP ... IFRS and where we previously came from and how those differences might manifest themselves and to ensure that the employees and the directors and management staff understood the rules of IFRS, because they were the new rules of the game, and to understand that they were being properly prepared. Because personal views were not particularly relevant. The accounting standard was what it was and it was designed to do something and it had to be applied.
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