Oireachtas Joint and Select Committees
Tuesday, 28 May 2019
Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach
Matters Relating to the Banking Sector (Resumed): Pensions and Investment Research Consultants Ltd
Mr. Cormac Butler:
That is correct. Members should read "The Future of Audit" report, which states that the accounting profession gave the wrong advice. They were not adhering to what is known as the capital maintenance concept, which ensures that all losses are revealed. That report found that the accounting profession gave the wrong advice.