Oireachtas Joint and Select Committees

Thursday, 30 May 2019

Public Accounts Committee

2017 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2017
Chapter 22 - Irish Fiscal Advisory Council

9:00 am

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

I will continue on this theme because Mr. Moran is to come back to us with a response to some of the questions. I have a few further questions Mr. Moran might respond to as well. Who were the auditors for IBRC before it was liquidated? I am aware KPMG were the auditors of Irish Nationwide, which, obviously, makes up part of IBRC, but I cannot recall who were the auditors of IBRC.

Mr. Moran might give us some indication as well in this regard. In the report on Vote 7, the Department refers to unsecured creditors payments but it would be quite useful for the committee to see a profile of what is happening in IBRC from the time of its liquidation. It is quite difficult to get a handle on it. The lack of any kind of transparency on this is a real cause of concern. Obviously, that is why the committee of oversight is being sought.

I accept a committee of oversight is not in the legislation, which was rushed and, obviously, deficient. If, for example, it was a question of a committee of oversight being put in place, and, obviously, the legislation would have to be amended to do that, would that make the court cases moot? Would the Department agree that would be the case?


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