Oireachtas Joint and Select Committees

Thursday, 10 November 2016

Public Accounts Committee

Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed)

9:00 am

Mr. Seamus McCarthy:

That document was in the context of the 2013 financial statements and the point at issue was whether or not they should book that loss in 2013 knowing that they were going to sell it at a loss. That is effectively what it was. In the 2014 financial statements, which is the year in which they booked the loss, it would not have been set out in the financial statements that, "On Project Eagle, we took a loss of £160 million". It was kind of incorporated into other-----

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