Oireachtas Joint and Select Committees
Thursday, 10 October 2024
Public Accounts Committee
Financial Statements 2023: Land Development Agency
9:30 am
Mr. John Coleman:
During the setting up of the LDA, because you are going through the design and planning phase, the level of money flowing through was, as we and the C an AG have outlined, relatively small compared with what it is now. The number of transactions, invoices to be paid, etc., were relatively small at that stage. Therefore, we introduced a manual accounting system that was accurate and that had the relevant controls in place to ensure that it was accurate and calibrated in line with the scale of the throughput of transactions for the LDA at that time. We always knew that we would need a proper system-based set of accounts or accounting system, which we have now procured and installed. This is in place and operational.