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
Gerry Horkan (Fianna Fail) | Oireachtas source
We would never have been in this situation if people had stuck to the basics such as true and fair view, going concerns, and recording things at recoverable value - which is one of the four basic prudence principles in accounting that one learns on one's first day. They should have taken the hit when it was realised. If they had, we would not have had all these issues with promissory notes and so on. I have probably taken up enough of everybody's time. I thank the two witnesses for their points.
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