Oireachtas Joint and Select Committees

Thursday, 26 November 2015

Public Accounts Committee

Bord na gCon Financial Statements 2014

10:00 am

Mr. Michael Murnane:

It is €62,000. We had them independently valued in 2011 as part of the audit process. Those assets are subject to an accounting impairment test under financial reporting standard 11 each and every year. We went through the test in detail with the Comptroller and Auditor General in 2014 and a write-down was not required. The same test will be performed during this year's audit also.