Oireachtas Joint and Select Committees

Wednesday, 9 July 2025

Joint Oireachtas Committee on Enterprise, Tourism and Employment

Irish Auditing and Accounting Supervisory Authority: Engagement with Chairperson

2:00 am

Mr. Kevin Prendergast:

It is probably outside our remit to decide how the Government assigns investment in infrastructure projects. When we are looking at an entity, and without getting into specifics, if that entity has been subject to a significant fine or significant criticism, which might have affected either its viability, the viability of its business model or its costs, then we would expect the auditors to have carried out a proper review of that. When we are doing our risk matrix every year, that is the basis on which we pick the individual audits within the firms that we regulate. Our risk matrix will have regard to events that may have occurred in respect of those entities. We expect the auditors to do their work and we oversee that. To the Deputy's particular question, that is really a matter for the people who take the decisions with regard to public infrastructure investment.

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