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Public Accounts Committee: 2011 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Chapter 2 - Government Debt
Chapter 4 - National Pensions Reserve Fund
Chapter 25 - Accounts of the National Treasury Management Agency
National Treasury Management Agency - Financial Statements 2011
National Pensions Reserve Fund Commission - Financial Statements 2011
(22 Nov 2012)

John McGuinness: Perhaps using a transcript of the meeting this morning would be of assistance.

Public Accounts Committee: 2011 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Chapter 2 - Government Debt
Chapter 4 - National Pensions Reserve Fund
Chapter 25 - Accounts of the National Treasury Management Agency
National Treasury Management Agency - Financial Statements 2011
National Pensions Reserve Fund Commission - Financial Statements 2011
(22 Nov 2012)

John McGuinness: The outcome of this is that we would expect a report back as soon as possible.

Public Accounts Committee: 2011 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Chapter 2 - Government Debt
Chapter 4 - National Pensions Reserve Fund
Chapter 25 - Accounts of the National Treasury Management Agency
National Treasury Management Agency - Financial Statements 2011
National Pensions Reserve Fund Commission - Financial Statements 2011
(22 Nov 2012)

John McGuinness: I call Deputy O'Donnell.

Public Accounts Committee: 2011 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Chapter 2 - Government Debt
Chapter 4 - National Pensions Reserve Fund
Chapter 25 - Accounts of the National Treasury Management Agency
National Treasury Management Agency - Financial Statements 2011
National Pensions Reserve Fund Commission - Financial Statements 2011
(22 Nov 2012)

John McGuinness: Is Mr. Corrigan aware of any disciplinary action having been taken against employees in State Street? I return to the question raised by Deputy Nolan as to how these employees move from one company to another, almost en bloc. Has State Street identified the person or persons involved and has action been taken? The National Treasury Management Agency has pressed State Street on this issue....

Public Accounts Committee: 2011 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Chapter 2 - Government Debt
Chapter 4 - National Pensions Reserve Fund
Chapter 25 - Accounts of the National Treasury Management Agency
National Treasury Management Agency - Financial Statements 2011
National Pensions Reserve Fund Commission - Financial Statements 2011
(22 Nov 2012)

John McGuinness: Was the information on the three individuals concerned received from State Street in the explanation provided when a senior executive of the company flew into Ireland to discuss this matter with the NTMA? Having notified the Garda of the matter, will the NTMA pursue a Garda investigation to bring it to a conclusion? Arising from this hearing, the NTMA should write to the FSA in the UK to...

Public Accounts Committee: 2011 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Chapter 2 - Government Debt
Chapter 4 - National Pensions Reserve Fund
Chapter 25 - Accounts of the National Treasury Management Agency
National Treasury Management Agency - Financial Statements 2011
National Pensions Reserve Fund Commission - Financial Statements 2011
(22 Nov 2012)

John McGuinness: May we publish the statement?

Public Accounts Committee: 2011 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Chapter 2 - Government Debt
Chapter 4 - National Pensions Reserve Fund
Chapter 25 - Accounts of the National Treasury Management Agency
National Treasury Management Agency - Financial Statements 2011
National Pensions Reserve Fund Commission - Financial Statements 2011
(22 Nov 2012)

John McGuinness: I ask Mr. Corrigan for his opening statement.

Public Accounts Committee: 2011 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Chapter 2 - Government Debt
Chapter 4 - National Pensions Reserve Fund
Chapter 25 - Accounts of the National Treasury Management Agency
National Treasury Management Agency - Financial Statements 2011
National Pensions Reserve Fund Commission - Financial Statements 2011
(22 Nov 2012)

John McGuinness: I ask the Comptroller and Auditor General to introduce the chapter.

Public Accounts Committee: Business of Committee (22 Nov 2012)

John McGuinness: Was there any response from the Department of Education and Skills in respect of matters raised last week?

Public Accounts Committee: Business of Committee (22 Nov 2012)

John McGuinness: It is of grave concern to those in Waterford that this is dealt with as quickly as possible because it leaves a cloud over the institute. It is unfair of us to stand back and allow time to pass with regard to the issues raised on expenditure at the institute. We need to close off that business and tie it into the examination under way at present. We should ask the Department of Education...

Public Accounts Committee: Business of Committee (22 Nov 2012)

John McGuinness: We made it clear to them when they appeared that many questions remained unanswered. Members felt it would be better if the representatives from WIT were asked in again and that one of the three parties involved would take up the explanation on expenditure, giving a clear picture of how money was spent and managed. That work was to be undertaken by them and they were to be asked to return....

Public Accounts Committee: Business of Committee (22 Nov 2012)

John McGuinness: That is what we are doing. We are getting a brief on his terms of reference and the timeframe involved in order that we can complete the other part of our work before us.

Public Accounts Committee: Business of Committee (22 Nov 2012)

John McGuinness: There are two different matters, linked somewhat through our exchange on the previous occasion. We are trying to clear the air, find out our position and proceed in order that we can complete our work. We are trying to be helpful to the Department of Education and Skills and WIT in respect of the issues raised. Regarding correspondence and the work programme, I received correspondence...

Public Accounts Committee: Business of Committee (22 Nov 2012)

John McGuinness: The report is much more extensive than what I read in the newspapers today. We should proceed at 3 p.m.

Public Accounts Committee: Business of Committee (22 Nov 2012)

John McGuinness: There is no way around it if it gets into the public domain. It is important to have the launch.

Public Accounts Committee: Business of Committee (22 Nov 2012)

John McGuinness: I agree but I have no control over it. The launch will go ahead at 3 p.m. Is the agenda for the meeting at 10 a.m. Thursday, 6 December, when we will meet representatives of the Department of the Environment, Community and Local Government to deal with chapters 6 and 16 concerning financial commitments under public private partnerships and central Government funding of local authorities,...

Public Accounts Committee: 2011 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Chapter 2 - Government Debt
Chapter 4 - National Pensions Reserve Fund
Chapter 25 - Accounts of the National Treasury Management Agency
National Treasury Management Agency - Financial Statements 2011
National Pensions Reserve Fund Commission - Financial Statements 2011
(22 Nov 2012)

John McGuinness: I ask the witnesses and those in the Visitors Gallery to turn off their telephones because the interference affects the sound quality of the transmission of the meeting. It applies particularly to those who leave their telephones on the desk in front of the microphone, which picks up the noise and means the proceedings cannot be transmitted properly. I ask members and witnesses to observe...

Public Accounts Committee: Business of Committee (22 Nov 2012)

John McGuinness: The first item is the minutes of the meetings of 15 and 20 November. Are the minutes agreed? Agreed. As there are no matters arising therefrom, we will move to correspondence received from Accounting Officers and Ministers since our meeting of Thursday, 15 November 2012. No. 3A.1 is correspondence dated 15 and 19 November 2012 from Mr. Kieran Coughlan, Secretary General, Houses of the...

Public Accounts Committee: Business of Committee (22 Nov 2012)

John McGuinness: Would the Department be involved?

Public Accounts Committee: Business of Committee (22 Nov 2012)

John McGuinness: Will we get a response from it?

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