Kieran O'Donnell (Limerick City, Fine Gael) | Oireachtas source

Chairman, it's a very straightforward question, and the question is: ye are a world-renowned accountancy firm and professional advisers. Ye went for a 4% reduction on average in commercial property over a three-year period between '08 and 2011, when commercial property went down in reality by 60 ... over 60%. When you looked at the worst-case scenario, scenario 2 rather than scenario 1, you actually reduced the reduction in valuation from 1.5% per annum to 1.25% per annum.

And looking back now, in hindsight, were those figures grossly understated?