Oireachtas Joint and Select Committees
Wednesday, 29 January 2014
Joint Oireachtas Committee on Finance, Public Expenditure and Reform
Report on Licensed Moneylending Industry: Central Bank of Ireland
5:15 pm
Arthur Spring (Kerry North-West Limerick, Labour)
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I am not being smart, but if I owned a moneylending company I would be siphoning money out of it through salaries or whatever. There are many mechanisms. A company can pay royalties or whatever it wishes. The members of the deputation know what I am talking about. That is done to keep the profitability low and to provide the Central Bank with profit and loss accounts and balance sheets which would show little money in the company. Has the Central Bank carried out a forensic audit of the books for that purpose? Is information available in this regard? Can we examine a company's accounts at the Companies Registration Office, for example?