Oireachtas Joint and Select Committees

Thursday, 25 January 2018

Public Accounts Committee

Business of Committee

9:00 am

Mr. Seamus McCarthy:

Not particularly. There is a significant challenge there. Many of the heritage assets, the paintings, that are in the National Gallery are many years in State ownership. Valuing the back catalogue is difficult. Specifically, around 2011, there was a change in accounting policy that any acquisitions should be either recorded on the balance sheet at cost or valuation, if they were donations. There have been significant donations to the National Gallery.