Oireachtas Joint and Select Committees

Thursday, 10 November 2016

Public Accounts Committee

Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed)

9:00 am

Mr. Seamus McCarthy:

We will probably come to this later, but note 3 at the bottom of the table on the following page states: "Assets forecast to sell from 2017 to 2020 are impaired by 17% or €85.0m (currently not impaired)." It was effectively telling the board that those assets were not impaired and that an impairment needed to be placed on them based on what had happened in the market.