Results 7,641-7,660 of 14,090 for speaker:Marc MacSharry
- Public Accounts Committee: 2015 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 22 - Courts Service (13 Jul 2017) Marc MacSharry: Does Mr. Quigley have specific experience in equities, investment and such things?
- Public Accounts Committee: 2015 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 22 - Courts Service (13 Jul 2017) Marc MacSharry: In his previous life, would Mr. Quigley have worked for Davy or other such companies managing funds?
- Public Accounts Committee: 2015 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 22 - Courts Service (13 Jul 2017) Marc MacSharry: I am not saying that. I do not want Mr. Quigley to be unduly defensive. I simply want to get to the bottom of it. I realise Mr. Quigley is doing the best he can, as are the three judges. Who else is there? There is an external person and that role is tendered out. Then, there is Mr. Quigley.
- Public Accounts Committee: 2015 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 22 - Courts Service (13 Jul 2017) Marc MacSharry: Again, I imagine the average county registrar would not have been trading on the floor of an investment house. There are 11 on the committee. Apart from the one person who the board tenders for to give advice, who is a trader, financial expert or investment analyst?
- Public Accounts Committee: 2015 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 22 - Courts Service (13 Jul 2017) Marc MacSharry: That is one person. Of the 11 we have probably two people with specific financial expertise, apart from Mr. Quigley, who is a chartered accountant. I realise Mr. Quigley would understand these things but, as he said himself, he would not describe himself as an expert. There are 11 people on the internal investment committee. Two people have expertise specific to investing large amounts of...
- Public Accounts Committee: 2015 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 22 - Courts Service (13 Jul 2017) Marc MacSharry: I get that. Of the 11, we have two who have proficiency in investment management. Is that fair to say?
- Public Accounts Committee: 2015 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 22 - Courts Service (13 Jul 2017) Marc MacSharry: By his own admission, Mr. Quigley stated he would not have been an expert in that field. Is the other accountant an expert in that field?
- Public Accounts Committee: 2015 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 22 - Courts Service (13 Jul 2017) Marc MacSharry: Two of the 11 people on the committee that advise on these matters-----
- Public Accounts Committee: 2015 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 22 - Courts Service (13 Jul 2017) Marc MacSharry: What do they do then?
- Public Accounts Committee: 2015 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 22 - Courts Service (13 Jul 2017) Marc MacSharry: I understand that. What do the 11 people do?
- Public Accounts Committee: 2015 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 22 - Courts Service (13 Jul 2017) Marc MacSharry: What do the 11 people do when they meet?
- Public Accounts Committee: 2015 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 22 - Courts Service (13 Jul 2017) Marc MacSharry: I hear what Mr Quigley is saying, but I am bound to conclude there is no expertise.
- Public Accounts Committee: 2015 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 22 - Courts Service (13 Jul 2017) Marc MacSharry: No, we did not agree. Mr. Quigley said there were two people with specific expertise, nine others do not have that expertise. They do not take decisions and they do not advise, and as Mr. Quigley stated that the work is contracted out to a company. What is the name of that company?
- Public Accounts Committee: 2015 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 22 - Courts Service (13 Jul 2017) Marc MacSharry: Aon Hewitt are advising. The 11 people meet, ask Aon Hewitt what the Courts Service should do with the cash and then discuss its recommendation. The Courts Service then approves the advice on investments from Aon Hewitt and makes the decision. Is that what happens?
- Public Accounts Committee: 2015 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 22 - Courts Service (13 Jul 2017) Marc MacSharry: This is just an opinion, given that just two members of the 11 member committee are effectively qualified to adjudicate on the merit of the recommendation of third party advice that put the finances of minors and wards of courts at risk. That is insufficient when such amounts of money are involved. Without going into specific cases, what percentage of the resources of wards of court or...
- Public Accounts Committee: 2015 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 22 - Courts Service (13 Jul 2017) Marc MacSharry: It is not personal.
- Public Accounts Committee: 2015 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 22 - Courts Service (13 Jul 2017) Marc MacSharry: I am not an expert, but it would seem reasonable to me that if I want financial advice, I would not have a committee comprising nine gardeners on an 11 man committee to give me that investment advice. That is not to impugn the fine reputations and work of those people in their individual field of expertise which is not investment of €1.5 billion. That is a suggestion that Mr. Quigley...
- Public Accounts Committee: 2015 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 22 - Courts Service (13 Jul 2017) Marc MacSharry: I understand that. That brings me to my next point. What is the level of oversight? Can the Comptroller and Auditor General for example look into the investment decisions, second guess the investments after the fact, look at the value for money, the outcomes, or is it a secret society?
- Public Accounts Committee: 2015 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 22 - Courts Service (13 Jul 2017) Marc MacSharry: I know. Who has oversight of the committee?
- Public Accounts Committee: 2015 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 22 - Courts Service (13 Jul 2017) Marc MacSharry: Who are the auditors?