Oireachtas Joint and Select Committees

Thursday, 10 December 2015

Public Accounts Committee

Business of Committee

10:50 am

Mr. Seamus McCarthy:

What one would certainly expect and what we always try to do is to set out any control weakness issues that need to be addressed in a management letter which is addressed to the Governor. It is a matter we will then discuss with the audit committee. We will keep coming back to it until the recommendations we have made have been implemented. In general, it only takes one time of asking for the Central Bank to respond and to, at least, begin a process which we keep monitoring until we are satisfied that it has discharged the recommendation and completed the work we require. There is a rolling programme.

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