Oireachtas Joint and Select Committees

Thursday, 5 May 2022

Public Accounts Committee

2020 Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Finance
2020 Report on the Accounts of the Public Services of the Comptroller and Auditor General
Chapter 1 - Exchequer Financial Outturn for 2020
Chapter 16 - Ireland Apple Escrow Fund
Audited Financial Statements of the Exchequer for 2020

9:30 am

Mr. John Hogan:

The important thing for us was to put the sanctions regime that was expected of us internationally in place. We have done that successfully. The figures there are reviews that were undertaken by the Central Bank. It has a strong interaction as a result of the details that it gets from the 3,000 SPEs in Ireland in relation to their background and so on. I think there is strong, rigorous oversight on that. The information flow can give the committee some comfort that the interaction conducted by the Central Bank has been successful in identifying the scope and exposure there. As this unfolds, if there are additional requirements at EU level we will react to them at the same speed as we have done over the past number of months.