Results 4,661-4,680 of 34,616 for speaker:Seán Fleming

Public Accounts Committee: 2017 Annual Report of the Comptroller and Auditor General
Chapter 21 - Accounts of the National Treasury Management Agency
National Treasury Management Agency Financial Statements 2018 (4 Jul 2019)

Seán Fleming: The Deputy has 20 minutes as the lead speaker.

Public Accounts Committee: 2017 Annual Report of the Comptroller and Auditor General
Chapter 21 - Accounts of the National Treasury Management Agency
National Treasury Management Agency Financial Statements 2018 (4 Jul 2019)

Seán Fleming: That note can be sent to the Deputy through the committee.

Public Accounts Committee: 2017 Annual Report of the Comptroller and Auditor General
Chapter 21 - Accounts of the National Treasury Management Agency
National Treasury Management Agency Financial Statements 2018 (4 Jul 2019)

Seán Fleming: We are dealing with the National Treasury Management Agency's accounts separate from those of the State Claims Agency, with which we will soon deal in a separate session. We will take a five-minute break between sessions. I have some questions for the witnesses based on the information provided. I thank them for the very professional and helpful presentation. On the Apple escrow...

Public Accounts Committee: 2017 Annual Report of the Comptroller and Auditor General
Chapter 21 - Accounts of the National Treasury Management Agency
National Treasury Management Agency Financial Statements 2018 (4 Jul 2019)

Seán Fleming: The NTMA can switch the money from one to another.

Public Accounts Committee: 2017 Annual Report of the Comptroller and Auditor General
Chapter 21 - Accounts of the National Treasury Management Agency
National Treasury Management Agency Financial Statements 2018 (4 Jul 2019)

Seán Fleming: Has it done so?

Public Accounts Committee: 2017 Annual Report of the Comptroller and Auditor General
Chapter 21 - Accounts of the National Treasury Management Agency
National Treasury Management Agency Financial Statements 2018 (4 Jul 2019)

Seán Fleming: On the escrow account, the agent and custodian is the Bank of New York Mellon which is based in London. Some €14.285 billion was put into the fund by Apple Sales International. The Comptroller and Auditor General carried out an audit on behalf of the Minister for Finance and the State. Presumably, Apple Sales International carried out an independent audit of the fund at the end of...

Public Accounts Committee: 2017 Annual Report of the Comptroller and Auditor General
Chapter 21 - Accounts of the National Treasury Management Agency
National Treasury Management Agency Financial Statements 2018 (4 Jul 2019)

Seán Fleming: The fund of €14 billion was deposited in an escrow account by Apple Sales International to be held for it and the State. The NTMA looks after the fund for the Minister for Finance and the Comptroller and Auditor General audits it to provide reassurance for the Minister and the committee that everything is okay. I presume Apple has done the same. Was there a joint audit? There must...

Public Accounts Committee: 2017 Annual Report of the Comptroller and Auditor General
Chapter 21 - Accounts of the National Treasury Management Agency
National Treasury Management Agency Financial Statements 2018 (4 Jul 2019)

Seán Fleming: What is the line of communication between Apple Sales International and the NTMA? Is there a line of communication?

Public Accounts Committee: 2017 Annual Report of the Comptroller and Auditor General
Chapter 21 - Accounts of the National Treasury Management Agency
National Treasury Management Agency Financial Statements 2018 (4 Jul 2019)

Seán Fleming: So the NTMA communicates with the Bank of New York Mellon?

Public Accounts Committee: 2017 Annual Report of the Comptroller and Auditor General
Chapter 21 - Accounts of the National Treasury Management Agency
National Treasury Management Agency Financial Statements 2018 (4 Jul 2019)

Seán Fleming: I am hearing something that I have not heard before. Who are those six people?

Public Accounts Committee: 2017 Annual Report of the Comptroller and Auditor General
Chapter 21 - Accounts of the National Treasury Management Agency
National Treasury Management Agency Financial Statements 2018 (4 Jul 2019)

Seán Fleming: Who are they?

Public Accounts Committee: 2017 Annual Report of the Comptroller and Auditor General
Chapter 21 - Accounts of the National Treasury Management Agency
National Treasury Management Agency Financial Statements 2018 (4 Jul 2019)

Seán Fleming: Are they staff of the NTMA?

Public Accounts Committee: 2017 Annual Report of the Comptroller and Auditor General
Chapter 21 - Accounts of the National Treasury Management Agency
National Treasury Management Agency Financial Statements 2018 (4 Jul 2019)

Seán Fleming: How often do they meet?

Public Accounts Committee: 2017 Annual Report of the Comptroller and Auditor General
Chapter 21 - Accounts of the National Treasury Management Agency
National Treasury Management Agency Financial Statements 2018 (4 Jul 2019)

Seán Fleming: Are there minutes of those meetings?

Public Accounts Committee: 2017 Annual Report of the Comptroller and Auditor General
Chapter 21 - Accounts of the National Treasury Management Agency
National Treasury Management Agency Financial Statements 2018 (4 Jul 2019)

Seán Fleming: Who is the chairperson of that group?

Public Accounts Committee: 2017 Annual Report of the Comptroller and Auditor General
Chapter 21 - Accounts of the National Treasury Management Agency
National Treasury Management Agency Financial Statements 2018 (4 Jul 2019)

Seán Fleming: The amount of money is so large that the Committee of Public Accounts could do with reassurance from the Apple-Ireland committee that it has seen the audit report from both sides. We presume they are identical but we would like to verify that.

Public Accounts Committee: 2017 Annual Report of the Comptroller and Auditor General
Chapter 21 - Accounts of the National Treasury Management Agency
National Treasury Management Agency Financial Statements 2018 (4 Jul 2019)

Seán Fleming: No, Apple must have done an audit on this escrow account.

Public Accounts Committee: 2017 Annual Report of the Comptroller and Auditor General
Chapter 21 - Accounts of the National Treasury Management Agency
National Treasury Management Agency Financial Statements 2018 (4 Jul 2019)

Seán Fleming: Apple has not done an audit.

Public Accounts Committee: 2017 Annual Report of the Comptroller and Auditor General
Chapter 21 - Accounts of the National Treasury Management Agency
National Treasury Management Agency Financial Statements 2018 (4 Jul 2019)

Seán Fleming: How does Mr. O'Kelly know that? Is it from the work of the joint committee?

Public Accounts Committee: 2017 Annual Report of the Comptroller and Auditor General
Chapter 21 - Accounts of the National Treasury Management Agency
National Treasury Management Agency Financial Statements 2018 (4 Jul 2019)

Seán Fleming: Does Apple plan to do an audit?