Oireachtas Joint and Select Committees

Tuesday, 28 May 2019

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach

Matters Relating to the Banking Sector (Resumed): Pensions and Investment Research Consultants Ltd

Mr. Cormac Butler:

We sent letters to that office, but it is of the view that the accounting standards do comply with the law. The view of the ODCE in this matter is inconsistent with the opinion of George Bompas QC. It is inconsistent with a recent admission by the Institute of Chartered Accountants in England and Wales, and it is inconsistent with one of the conclusions of "The Future of Audit". Its representatives need to be brought in and asked if their view is still the same because of these developments or has it changed. If it has changed then they must investigate.

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