Oireachtas Joint and Select Committees
Thursday, 19 September 2019
Public Accounts Committee
Bord na gCon Financial Statement 2017
9:00 am
Mr. Gerard Dollard:
We went through this earlier. It is a highly technical accounting area. In short, we are rationalising our subsidiary companies. As part of that process, we had to get valuations on individual stadia. As part of our accounting policies, we operate a depreciated cost model, rather than a market value model. When one works it through in terms of our accounts, we had to take in the market value of stadia where there was a reduction and, where there was an increase in market value, such as in the case of Shelbourne Park and the stadium in Cork - there was an increase of €7.7 million - our accounting policies did not allow us to take that into account.
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