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Public Accounts Committee: 2020 Annual Report of the Comptroller and Auditor General - Chapters 15 and 16
2019 Annual Report of the Comptroller and Auditor General - Chapter 16
National Treasury Management Agency - Financial Statements 2020
(7 Oct 2021)

Matt Carthy: I thank our guests for coming before the committee. I have a short follow-on question regarding the Apple escrow fund. This might have been implied but will the witnesses clarify whether the management, and those managing the fund, have specific annual targets to meet in terms of reporting back to the NTMA?

Public Accounts Committee: 2019 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2019
Chapter 17 - Ireland Apple Escrow Fund
(5 Nov 2020)

Matt Carthy: ...his staff and everybody in the Department who have been working during what has been a very challenging six or seven months at this stage. There is a lot of interest, as Mr. Moran knows, in the Apple escrow account and how it is managed. The sums of money involved are beyond people's imaginations. They are so massive that there is a public interest in understanding how they operate....

Public Accounts Committee: 2019 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2019
Chapter 17 - Ireland Apple Escrow Fund
(5 Nov 2020)

Matt Carthy: ...like. I wonder has Mr. Moran any fears because of the way in which the fund is managed. As he says, it is almost in the ether so nobody knows who is losing at the end of the day, whether it is Apple or the Irish State, in terms of any expenditure. Lawyers, financial advisers and investment firms see an opportunity to make a lot of money, in real terms. Is Mr. Moran satisfied that the...

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