Oireachtas Joint and Select Committees
Thursday, 10 October 2024
Public Accounts Committee
Financial Statements 2023: Land Development Agency
9:30 am
Cormac Devlin (Dún Laoghaire, Fianna Fail)
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That makes sense. I thank Mr. Coleman for that clarification. Turning to the C and AG's report, one of the issues - this is also highlighted in the LDA's financial statements - is the reliance on the spreadsheet accounting system. On the basis of what Mr. Coleman said, we know that this is being addressed right now. The LDA was incorporated in March 2022. Obviously, there was an unfunded existing entity prior to that. Will Mr. Coleman outline why it has taken so long to take action in this regard? Given even the recent announcement - again, alluded to by Mr. Coleman - of the more than €1 billion allocated in budget 2025, why has it taken so long to reach the point of getting to a proper or more robust accounting system?