Dáil Éireann Debate, Thursday - 13 December 2018
56. Deputy Richard Boyd Barrett asked the Minister for Finance the audit and consultancy fees paid by his Department and agencies or bodies attached to or under the remit of his Department to companies (details supplied) in each of the years since 2009; the percentage of audit consultancy fees that these payments represented; and if he will make a statement on the matter. [52500/18]
View answerThe details of the audit & consultancy fees paid by the department to KPMG, Ernst & Young, Deloitte and PriceWaterhouseCooper in each of the years since 2009 are provided in the following table:
|
Year |
Supplier |
Expenditure € |
Percentage of Audit Consultancy Fees that these payments represent |
|
2016 |
PriceWaterhouseCooper |
€73,031 |
45.60% |
|
2018 |
KPMG |
€69,938 |
0.02% |
|
2014 |
Deloitte LLP (UK) |
€97,937 |
0.02% |
Of the seventeen bodies under the aegis of my Department, I am informed that six have not made payments in respect of audit and consultancy services to the specified companies since 2009. These are the Credit Union Advisory Committee, the Disabled Drivers Medical Board of Appeal, the Financial Services and Pensions Ombudsman, the Irish Fiscal Advisory Council, the Irish Financial Services Appeals Tribunal and the Credit Union Restructuring Board (ReBo). While ReBo made no audit and consultancy payments during the period in question, a payment was made by this Department for €69,937.80 in 2018 to KPMG for professional services relating to the wind-down of ReBo in 2017.
The Office of the Comptroller and Auditor General, the National Treasury Management Agency (NTMA), the National Asset Management Agency (NAMA) and the Strategic Banking Corporation of Ireland (SBCI) were not in a position to provide the information requested in the time available. Therefore I will make arrangements to provide a response with respect to these three bodies in line with Standing Orders.
Details provided by the remaining seven bodies are in the following table.
|
Body |
Year |
Company & Fees Paid |
Percentage of audit & consultancy fees |
|
* Central Bank |
2009 |
Deloitte - €621,000 Ernst & Young - €178,000 KPMG - €2,009,000 PwC - €1,733,000 |
94.5% |
|
2010 |
Deloitte - €209,000 Ernst & Young - €188,000 KPMG - €7,000 PwC - €1,213,000 |
26.7% |
|
|
2011 |
Deloitte - €2,637,000 Ernst & Young - €2,483,000 KPMG - €98,000 PwC - €75,000 |
16.2% |
|
|
2012 |
Deloitte - €399,000 Ernst & Young - €2,634,000 KPMG - €684,000 PwC - €223,000 |
20.4% |
|
|
2013 |
Deloitte - €615,000 Ernst & Young - €9,613,000 KPMG - €5,855,000 PwC - €40,000 |
72.2% |
|
|
2014 |
Deloitte - €2,152,000 Ernst & Young - €11,617,000 KPMG - €6,165,000 PwC - €450,000 |
84.8% |
|
|
2015 |
Deloitte - €179,000 Ernst & Young - €396,000 KPMG - €46,000 PwC - €944,000 |
21.7% |
|
|
2016 |
Deloitte - €184,000 Ernst & Young - €779,000 KPMG - €299,000 PwC - €865,000 |
29.0% |
|
|
2017 |
Deloitte - €206,000 Ernst & Young - €1,989,000 KPMG - €556,000 PwC - €426,000 |
29.5% |
|
|
2018 |
Deloitte - €342,000 Ernst & Young - €1,272,000 KPMG - €53,000 PwC - €309,000 |
12.9% |
|
|
Credit Review Office |
2009 - 2014 |
N/A |
Nil |
|
2015 |
Ernst & Young - €3475.98 |
100% |
|
|
2016 |
N/A |
Nil |
|
|
2017 |
Ernst & Young - €3475.98 |
100% |
|
|
2018 |
N/A |
Nil |
|
|
**Investor Compensation Company Limited |
2009 |
PwC - €13,365 |
100% |
|
2010 |
N/A |
Nil |
|
|
2011 |
PwC - €10,285 |
100% |
|
|
2012 |
PwC - €32,595 |
100% |
|
|
2013 |
KPMG - €9,225 |
100% |
|
|
2014 |
KPMG - €9,225 |
100% |
|
|
2015 |
KPMG - €9,225 |
100% |
|
|
2016 |
N/A |
Nil |
|
|
2017 |
KPMG - €18,450 |
100% |
|
|
2018 |
N/A |
Nil |
|
|
***Irish Bank Resolution Corporation |
The information provided is for the period from 2013 to date. Information prior to the appointment of the Special Liquidator in 2013 is not readily available and the compilation of this information would incur a significant expense given that all legacy systems are no longer operational. Given IBRC is in liquidation, there are no audit fees since the date of liquidation. |
||
|
2013 |
Deloitte - €367,000 PwC - €4,197,788 |
2.45% 28% |
|
|
2014 |
Deloitte - €68,233 PwC - €1,261,433 |
2.6% 47% |
|
|
2015 - 2018 |
N/A |
Nil |
|
|
Office of the Revenue Commissioners |
Data is not readily available for the years 2009-2012. Revenue is pursuing the retrieval of the relevant data, and this information will be provided in line with Standing Orders. |
||
|
2013 - 2017 |
N/A |
Nil |
|
|
Social Finance Foundation |
2018 |
Ernst & Young - €46,000 |
100% |
|
2009 |
PwC - €16,000 |
100% |
|
|
2010 |
PwC - €21,000 |
64% |
|
|
2011 - 2017 |
N/A |
Nil |
|
|
2018 |
Deloitte - €15,000 |
49% |
|
|
Tax Appeals Commission |
2009 - 2017 |
N/A |
Nil |
|
2018 |
KPMG - €4,900 |
8% of all consultancy fees paid in 2018 |
*The Central Bank of Ireland, in support of its mandate, engages external vendors as required for a range of specialist services. Fees incurred can also include the provision of services to the Central Bank such as the provision of services in support of IT functions. A significant portion of fees incurred are in turn recovered from the banks or wider industry.
** Fees disclosed for ICCL all relate to statutory audit services. ICCL would have incurred fees in relation to the certification of claims in accordance with the Investor Compensation Act, 1998 from individuals who are partners of PWC and KPMG. However, ICCL do not consider those fees to be consultancy as they relate to a statutory role and the appointment is made by the Court and not ICCL.
*** While KPMG have been paid significant fees from the liquidation of IBRC, these do not constitute either audit or consultancy fees so have not been included.
