Oireachtas Joint and Select Committees

Thursday, 22 June 2017

Public Accounts Committee

Dublin Institute of Technology and Cork Institute of Technology: Financial Statements

9:00 am

Photo of Catherine MurphyCatherine Murphy (Kildare North, Social Democrats) | Oireachtas source

I have heard Professor Norton talk about regrets several times and, to be perfectly honest, it is almost annoying at this stage because it would have been self-evident to send in the Ernst & Young report, which was the independent report. It would have been self-evident that it should be the report provided to us. It is after the event. It would have been very helpful to us while going through this if we could match it against the much longer report that was internally generated as a consequence of this report. Having an independent pair of eyes on this is what we wanted. I have a question mark in my mind about managing the fall-out from this on the information that was provided to us. I do not know if Professor Norton agrees with me on that but that is certainly what it feels like. What management arrangements have been put in place on due diligence, specifically for very large amounts? Are the witnesses just sticking with the rules that were already in place? Are there other controls?

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