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Public Accounts Committee: Business of Committee (22 Feb 2018)

Marc MacSharry: I thought the Comptroller and Auditor General was going to say the department of arts culture and design or something like that when drinking water and corporate subscriptions can be stuffed into training and development.

Public Accounts Committee: Business of Committee (22 Feb 2018)

Marc MacSharry: What happened to the word "sundries"?

Public Accounts Committee: Business of Committee (22 Feb 2018)

Marc MacSharry: Does it not?

Public Accounts Committee: Business of Committee (22 Feb 2018)

Marc MacSharry: I can say that it certainly does. It might not call it that.

Public Accounts Committee: Business of Committee (22 Feb 2018)

Marc MacSharry: When we finish correspondence, will we discuss the financial statements?

Public Accounts Committee: Business of Committee (22 Feb 2018)

Marc MacSharry: That is all right.

Public Accounts Committee: Business of Committee (22 Feb 2018)

Marc MacSharry: Is that the back of it?

Public Accounts Committee: Business of Committee (22 Feb 2018)

Marc MacSharry: I am interested in this matter because I have received a lot of correspondence on this matter. I want to make sure that we cover all of the areas that we have to and we do so appropriately because the individual in question does have very serious concerns. I know we passed it to the HEA but we need to be happy as a committee that the HEA is doing what we would like it to do. What did it say...

Public Accounts Committee: Business of Committee (22 Feb 2018)

Marc MacSharry: It is probably the same as I am getting.

Public Accounts Committee: Business of Committee (22 Feb 2018)

Marc MacSharry: Could I have a look at that?

Public Accounts Committee: Business of Committee (22 Feb 2018)

Marc MacSharry: I see a reference to deferred pension. Will Mr. McCarthy explain that to me?

Public Accounts Committee: Business of Committee (22 Feb 2018)

Marc MacSharry: So it is smoke and mirrors.

Public Accounts Committee: Business of Committee (22 Feb 2018)

Marc MacSharry: It is a bit like the Government numbers the IOUs, it is as good as cash. The Exchequer will give it to us, provided it has money.

Public Accounts Committee: Business of Committee (22 Feb 2018)

Marc MacSharry: Would it be normal to have a clear audited opinion based on that?

Public Accounts Committee: Business of Committee (22 Feb 2018)

Marc MacSharry: By the State?

Public Accounts Committee: Business of Committee (22 Feb 2018)

Marc MacSharry: Is that permitted under law or is it just the practice?

Public Accounts Committee: Business of Committee (22 Feb 2018)

Marc MacSharry: Is FRS 102 specific to State bodies?

Public Accounts Committee: Business of Committee (22 Feb 2018)

Marc MacSharry: If I have a private company and I identify my pension liability, can I put it in my accounts under this standard as a deferred pension, based on notional profitability?

Public Accounts Committee: Business of Committee (22 Feb 2018)

Marc MacSharry: How does one do it in the private sector?

Public Accounts Committee: Business of Committee (22 Feb 2018)

Marc MacSharry: That is what I was asking. I asked if there is one rule for State entities and a different rule for private entities to which Mr. McCarthy replied "no".

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