Oireachtas Joint and Select Committees
Tuesday, 25 June 2019
Joint Oireachtas Committee on Jobs, Enterprise and Innovation
Scrutiny of the Industrial and Provident Societies (Amendment) Bill 2018
Mr. Brendan Murtagh:
Within the company legislation, a certain framework under which financial statements are prepared is prescribed. As a result, there is a consistency of the accounting treatment and of the disclosures in those financial statements. Currently, there is no equivalent prescription in the Bill, which means that any industrial or provident society could make its own determination on the accounting treatment or the disclosure, rather than what would be generally acceptable.
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