Dáil Éireann Debate, Tuesday - 24 March 2015
293. Deputy Thomas P. Broughan asked the Minister for Finance his views on the PwC report which was presented to the Government in November 2008; and if he will report on what basis the estimates of losses by the 22 individuals and corporations were calculated so incorrectly; and if the Revenue Commissioners have investigated that report. [12158/15]
View answerAs the Deputy is aware PricewaterhouseCoopers (PwC) was commissioned by the Financial Regulator to review the loan books and the capital position of six of the covered institutions as at 30th September 2008 and as such it was not a report commissioned by, or provided to, the Revenue Commissioners. The PwC Reports were a "point in time" exercise and were subject to a number of caveats. They reflected the estimate of PwC of the losses in the covered institutions in a variety of scenarios based on the information then available to PwC.
The basis of the estimate of losses set out in the PwC reports was a matter for the Financial Regulator (as the entity which commissioned the reports) and PwC.
